The Nikkei Stock Average rose 1.8% to 64,463.08 and briefly touched an intraday record of 64,515.84. The rally was driven by growing market hopes for a potential US-Iran peace deal, which would ease geopolitical uncertainty in the Middle East.
The gains were led by chip and construction stocks. Kioxia Holdings rose 5.3%, while Taisei rose 7.8%, reflecting buying interest in sectors sensitive to risk sentiment and the outlook for economic activity.
In the foreign exchange market, the dollar was at 158.91 yen, slightly lower than 159.07 yen at the close of the Tokyo stock market on Friday. This slight yen strengthening occurred as investors adjusted their positions based on geopolitical news and the direction of the dollar.
Market participants continued to monitor developments in the Middle East after President Donald Trump said on Sunday he was in no rush to finalize a deal to end the war with Iran. This “unhurried” tone has investors awaiting further clarity, although for the time being, market sentiment remains supportive of risky assets such as Japanese stocks. (asd)
Source: Newsmaker.id