Nikkei surges as Trump claims US negotiating end to Iran war

TOKYO: Japan’s Nikkei share average rose the most in a week on Wednesday, supported by cautious optimism that the Middle East crisis could move toward a potential settlement after recent volatility.

The benchmark Nikkei 225 Index rose 2.87 percent to close at 53,749.62, its biggest percentage gain since March 18. The broader Topix climbed 2.57 percent to 3,650.99.

US President Donald Trump said on Tuesday the US was making progress in its efforts to negotiate an end to the war with Iran.

Like many global markets, Japanese stocks have gyrated amid conflicting signals about whether the crisis is escalating or an off-ramp to hostilities. Because of its dependence on imported energy, Japan’s economy is particularly vulnerable to the conflict’s impact on oil shipments and prices.