Asian Stock Market: Japan’s Nikkei 225 Surges 62,000 for the First Time, Here’s Why

Japan’s Nikkei 225 crossed the mark of 62,000. It’s recorded as a high number for the very first time. Japanese stocks surged over 4% on Thursday. Amidst the US-Iran peace deal, Japan’s stock market saw this surprising surge, according to the reports.

According to reports, the Topix index increased by 2.37% as well. The S&P/ASX 200 in Australia increased by 0.9%. The small-cap KOSDAQ index fell 0.98% in South Korea and the KOSPI index dropped 1.11% after having previously risen.

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Positive profits from Advanced Micro Devices fueled a surge in chipmakers and other AI-related equities, while lower tensions in the Middle East helped the S&P 500 and Nasdaq close Wednesday at record highs, reported by Mint. The Nasdaq increased by 2.03% to 25,838.94 points, while the S&P 500 gained 1.46% to 7,365.09 points at the conclusion. The Dow Jones Industrial Average increased by 1.24% to end the day at 49,910.59 points.

The Japanese markets have also been reacting to a stronger yen since Friday’s closing after Tokyo engaged in several suspected interventions to support the currency.