Japanese and South Korean stocks surged to record highs on Thursday, buoyed by positive investor sentiment following President Trump’s extension of the Iran ceasefire. The Nikkei 225 reached an all-time intraday high of 60,013.98, driven by strong performances in tech stocks like Softbank Group, which gained over 6%. Similarly, South Korea’s Kospi hit a record of 6,538.72, supported by robust economic growth of 1.7% in Q1, surpassing expectations.
This bullish momentum in Asian markets follows a rally in U.S. stocks, where the S&P 500 and Nasdaq both posted significant gains. The extension of the ceasefire, despite ongoing tensions with Iran, has contributed to a favorable risk-on environment, encouraging investment in equities. Additionally, rising oil prices, with WTI futures up to $93.20 per barrel, could impact sectors sensitive to energy costs.
Market professionals should closely monitor the ongoing geopolitical developments and their potential implications for global market stability, particularly in energy and tech sectors.
Source: cnbc.com