The Nikkei 225 index surpassed 70,000 points following a preliminary agreement between the U.S. and Iran to reopen the Strait of Hormuz.
The market rise came after the U.S. and Iran reached a preliminary agreement that includes reopening the Strait of Hormuz. The move also followed a rate increase.
The Nikkei 225 is a key indicator of the Japanese economy and trades on the TSE.
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Seoul stocks opened 1.76 percent higher on Tuesday after the United States and Iran reached an agreement to reopen the Strait of Hormuz. The KOSPI rose 150.57 points to 8,696.55 at the open.
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 benchmark Nikkei 225 index rose above 65,000 for the first time on May 25 as expectations grew that a deal might be reached to end the military conflict between the United States and Iran.
Wall Street and Mexico's BMV stock markets closed sharply higher on Wednesday, reacting to Tuesday's post-market announcement of a two-week truce between the US and Iran—including negotiations and gradual reopening of the Strait of Hormuz—following President Trump's ultimatum. The Dow Jones surged 2.85%, while the BMV's IPC climbed 2.47%. The Mexican peso strengthened up to 1.9% against the dollar.
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Asian markets advanced as oil prices declined following the finalization of a draft US-Iran peace memorandum. The development reduced worries over potential energy supply issues. Optimism around artificial intelligence also supported equities.
Asian stocks climbed higher on Monday, led by companies focused on artificial intelligence, despite escalating concerns over Middle East stability. Oil prices jumped after President Donald Trump rejected Iran's response to a US peace proposal as unacceptable. The developments come amid a 10-week-old conflict between the two nations.
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Germany's DAX index hit 24,260 points intraday on Thursday, its highest level in six weeks, closing at 24,154 points up 0.4 percent. Investors are optimistic amid hopes for an end to Middle East hostilities between Iran and the US. The S&P 500, Nikkei, and MSCI World also reached records.