Japan’s Nikkei share average closed at a more than one-month high on Wednesday, as prospects of a new round of peace talks between the United States and Iran lifted investor sentiment and sent crude oil prices lower. “Investors started selling stocks to book profits as the Nikkei approached a record high,” said Naoki Fujiwara, a senior fund manager at Shinkin Asset Management. “There are still uncertainties about the fate of the Middle East war. It is hard to imagine the Nikkei will post a new record high anytime soon.”
Talks to end the Iran war could resume in Pakistan over the next two days, U.S. President Donald Trump said on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports. The Nasdaq climbed 2% overnight, while the S&P 500 finished up 1%. Oil prices fell for a second day on Wednesday.
In Japan, AI-technology investor SoftBank Group rose 4.76%. Chip-testing equipment maker Advantest rose 2.17%. Chip-making equipment maker Tokyo Electron reversed course to end 0.46% lower. Memory maker Kioxia fell 7.2% after hitting a record high in the previous session. The stock has risen 70% so far this month. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 64% rose, 32% fell, and 2% traded flat.
