TOKYO: Japan’s Nikkei share average rose 5 percent on Wednesday, supported by hopes of de-escalation in the Middle East conflict after US President Donald Trump said the war with Iran could end in two to three weeks.
The Nikkei climbed 5.24 percent to 53,739.68, starting April on a strong note, after logging its worst month since the 2008 global financial crisis in March. The broader Topix gained 4.95 percent to 3,670.9.
“There are still uncertainties over the fate of the war, but at least the market is confident that it is moving towards the end,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
“If oil prices stabilise, it would make it easier for local firms to make forecasts for this fiscal year. They are set to start disclosing their outlook from the end of this month.”
Trump and Secretary of State Marco Rubio said the Iran war could be nearing an end, signalling that Washington was open to direct talks with Tehran’s leadership and could wind down the conflict even without a deal.
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