Japanese equities surged on Friday, with the Nikkei 225 jumping 2.53% to 66,329 and the Topix rising 1.41% to 3,957, as markets resumed their rally toward record highs. Optimism grew after reports of a US-Iran agreement to extend their ceasefire by 60 days, raising hopes for renewed negotiations on Iran's nuclear program and a possible resumption of unrestricted shipments through the Strait of Hormuz. This eased energy prices and boosted sentiment for oil-importing economies like Japan.
Domestically, Japan's retail sales grew at the fastest pace in a year, while industrial production unexpectedly rose, adding to the positive momentum. Tech and electronics stocks led the gains, with Kioxia up 7.5%, SoftBank Group rising 5.1%, Murata Manufacturing advancing 12.7%, Taiyo Yuden gaining 13.9%, and Ibiden Co climbing 16.5%. For the month, the Nikkei gained 11.88% and the Topix 6.17%, driven largely by renewed enthusiasm around artificial intelligence.
Powered by Capital Market - Live News