TOKYO: Japan’s Nikkei share average ended nearly 3 percent higher on Friday, as investors scooped up stocks after US President Donald Trump touted a possible peace deal with Iran.
The Nikkei closed up 2.81 percent at 66,020.04 after rising as much as 4.4 percent earlier in the session. In a volatile week, the index was down 0.85 percent for the week, snapping a three-week winning streak.
The broader Topix gained 1.35 percent to 3,881.96. Trump on Thursday said the US and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz to shipping, but Iran countered that it had not reached a final decision on an agreement.
Chip-related shares led the Nikkei’s gain, with Advantest and Tokyo Electron jumping 8.54 percent and 7.26 percent, respectively. Bank shares rose ahead of the Bank of Japan’s policy meeting next week, where the central bank is set to raise the policy rate to a 31-year high of 1 percent.
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