Nikkei closes above 60,000 for first time on earnings optimism

TOKYO: Japan’s Nikkei closed above the key 60,000 mark for the first time on Monday as optimism over corporate earnings overshadowed concerns about the Middle East conflict.

The benchmark Nikkei 225 Index rose 1.38 percent to finish the session at an unprecedented 60,537.36. The broader Topix climbed 0.5 percent to 3,735.28. The Nikkei has gained 18.6 percent so far this year.

Major indexes on Wall Street closed at record highs on Friday after Intel beat its earnings estimate, helped by surging demand in the artificial intelligence sector. The Philadelphia SE Semiconductor Index extended its record run of gains to 18 consecutive sessions.

Shares of factory automation provider Keyence and industrial robot maker Fanuc surged by their daily trading limit, nearly 16 percent, to lead gains in the Nikkei after both firms reported better-than-expected profit after the bell on Friday.