Nikkei surges 3.66% on AI growth hopes, US-Iran deal optimism
Price Action
The Nikkei index on the Tokyo stock market closed more than 3% higher today, as investors took a positive view that demand for artificial intelligence will continue to expand, along with hopes that the United States and Iran will reach an agreement to reopen the Strait of Hormuz. The Nikkei ended at 66,300.44 points, up 2,342.91 points or 3.66%, with leading gainers including non-ferrous metals, information and communication, and glass and ceramics products. The Tokyo market rose in line with the Dow Jones and S&P 500 indices on the New York Stock Exchange, which closed at record highs overnight after US Treasury Secretary Scott Bessent said the United States and Iran could soon reach a deal to reopen the Strait of Hormuz, pressuring West Texas Intermediate crude oil futures down to 75 dollars per barrel. In addition, AI and chip stocks gained, supported by strong earnings reports from several major companies in the United States and Japan.
