Tokyo Stocks Close Sharply Higher After US and Iran Sign MoU

Tokyo stocks closed sharply higher on Thursday, with the Nikkei index finishing above the 71,000 level for the first time. The benchmark Nikkei Stock Average, or Nikkei 225, ended up 1,151.24 points, or 1.65 percent, from Wednesday’s close at 71,053.49, after briefly touching an intraday record high of 71,398.58. Meanwhile, the broader Topix index finished 54.95 points, or 1.37 percent, higher at 4,068.18, also marking record highs both intraday and at the close. According to analysts, the Tokyo stock market surged after United States President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the conflict between the two countries. The benchmark Nikkei was also lifted by technology shares following a rise in semiconductor-related stocks in the US.