TOKYO: Japan’s Nikkei share average shot to a record high on Thursday (May 7) as financial markets reopened after holidays, catching up with optimism over strong technology earnings and signs of a potential peace deal in the Middle East.
The benchmark Nikkei 225 Index rose 3.38 per cent to an all-time high of 61,523.36 in early trading. The broader Topix climbed 2.02 per cent to 3,803.95.
At 9.31am local time, the Nikkei was up 4.1 percent at 61,937.78 points.
Japan’s markets are also responding to a stronger yen since the last trading day on Friday, following bouts of suspected intervention by Tokyo to bolster the currency.
South Korea’s benchmark Kospi index also opened at a fresh high after closing up more than 6 per cent on Wednesday, ending at 7,384.56.
It had opened 1.55 per cent higher on Thursday, and was up 0.72 per cent at one point during the day.
As of 9.50am local time, it was at 7,378.78
Wall Street indexes hit record highs overnight as positive results from Advanced Micro Devices propelled euphoria over the red-hot artificial intelligence sector. Iran said it is reviewing a US proposal to end the more than two-month war, while President Donald Trump said the US has had very good talks with Tehran.