Nikkei ends at record high on Middle East optimism

The Nikkei index closed at a record high on June 1 after gaining on optimism about the Middle East.

The benchmark index of 225 issues on the Tokyo Stock Exchange Prime section rose 604.83 points, or 0.91 percent, to finish at 66,934.33.

The gain came from Friday's close and marked a new record for the index.

The move followed positive developments related to the Middle East, according to market reports.

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Illustration of Seoul stock market traders with rising graphs amid news of US-Iran ceasefire agreement.
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Korean stocks opened sharply higher Friday following reports that the United States and Iran have reached an agreement to extend the current ceasefire.

Japan's Nikkei 225 Stock Average surged 5.6 percent to close at a record 62,833.84 on optimism about a potential U.S.-Iran agreement.

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Japan's Nikkei share average briefly topped 60,000 on Thursday before profit-taking reversed the gains, closing 0.75% lower at 59,140.23 after hitting a record high of 60,013.98. Geopolitical uncertainties in the Middle East weighed on sentiment amid rising oil prices. U.S. President Donald Trump's announcement extending the ceasefire with Iran supported early rises, though Iranian officials rejected any agreement.

Asian equities surged in line with Wall Street gains as optimism around US-Iran talks helped ease Middle East tensions. Crude oil prices and bond yields fell while South Korean stocks and Samsung Electronics posted notable increases.

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Asian stocks rebounded on easing Middle East tensions and a recovery in artificial intelligence shares. South Korea's KOSPI led the gains while Wall Street also advanced.

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