TOKYO: Japan’s Nikkei share average surged on Friday, capping its steepest weekly advance in more than a year, as optimism over corporate earnings and technology investment outweighed concerns about a fragile ceasefire in the Middle East.
The benchmark Nikkei 225 Index rose 1.84 percent to close at 56,924.11, rising 7.1 percent in the past five sessions in its best week since August 2024. Gains were concentrated around major companies, with the broader Topix slipping 0.04 percent to 3,739.85.
The Nikkei and other global indexes rose sharply on Wednesday, following the announcement of a ceasefire after nearly six weeks of war between Israel and the US and Iran that has nearly completely halted oil shipments from the region. All eyes are now on talks in Pakistan this weekend, as representatives from the United States and Iran meet to solidify the deal to end hostilities.