Japanese equities ended higher on Wednesday, with the Nikkei 225 Index rising 0.72% to a record closing high of 69,902. Investor sentiment was supported by stronger-than-expected trade data, which reinforced confidence in the outlook for Japan's economy and corporate earnings.
Official data showed that exports increased 17% year-on-year in May, marking the fastest growth since November 2022, driven by robust demand for automobiles and semiconductor-related products.
The gains also followed the Bank of Japan's decision a day earlier to raise its policy interest rate by 25 basis points to 1%, a move aimed at addressing inflation pressures and supporting the Japanese yen.
Meanwhile, investors continued to monitor developments surrounding the planned US-Iran peace agreement expected to be signed on Friday, which could lead to the reopening of the Strait of Hormuz and improve oil supply flows from the Middle East.
Technology and semiconductor-related stocks led the market higher, with strong gains seen in Lasertec, Tokyo Electron, Taiyo Yuden, Murata Manufacturing, and Ibiden.
Powered by Capital Market - Live News