Tokyo Stocks Bounce Back After Israel-Iran Truce
(MENAFN) Tokyo’s stock market experienced a strong rebound on Tuesday, fueled by investor optimism following the announcement of a ceasefire agreement between Israel and Iran, which helped ease geopolitical tensions.
The key Nikkei 225 index climbed to 38,790.56, marking an increase of 436.47 points or 1.14 percent compared to the previous session’s close.
Meanwhile, the broader Topix index also saw gains, advancing 20.17 points, or 0.73 percent, to settle at 2,781.35.
This upward momentum was further propelled by growing anticipation that the U.S. Federal Reserve could soon reduce interest rates.
Additionally, a decline in crude oil prices added fuel to the rally, as reduced inflation concerns lessened the likelihood of the Fed maintaining elevated rate levels. Despite the initial sharp rise, the Nikkei’s gains were pared back in the afternoon as it neared the key 39,000 threshold and investors began locking in profits.
On the Tokyo Stock Exchange Prime Market, the number of advancing stocks reached 1,044, while 509 shares dropped and 74 remained unchanged.
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