Nikkei Index Closes Above 65,000 for First Time

Tokyo - Japanese stocks closed higher on Monday, 25 May, with the Nikkei index closing above 65,000 for the first time, driven by progress in US-Iran peace talks and heightened hopes for resolving the Middle East conflict.

The Nikkei 225 index closed up 1,819.12 points, or 2.87%, at 65,158.19. The broader Topix index closed 50.11 points higher, or 1.29%, at a record closing high of 3,942.57.

On the Prime Market, non-ferrous metals, electrical equipment, and aerospace stocks led the gains. Analysts said reports that the US and Iran were close to signing a deal including a 60-day ceasefire extension, with the Strait of Hormuz reopening during that period, caused West Texas Intermediate (WTI) crude oil futures to drop and boosted market sentiment.

Rising top technology stocks, following a similar upward trend in US equities last Friday, also contributed to the Nikkei’s gains. The Nikkei reached an intraday high of 65,408.87, while the Topix hit 3,953.89, surpassing its previous intraday record from around three months ago.