TOKYO (dpa-AFX) - The Japanese stock market has tracked to the upside in six consecutive sessions, climbing more than 6,750 points or 10.6 percent in that span. Now at a fresh record closing high, the Nikkei 225 sits just above the 71,050-point plateau and it's expected to add to its winnings on Friday.
The global forecast for the Asian markets is upbeat as both sides appear to signal an end to the U.S.-Iran conflict. The European and U.S. markets were up and the Asian bourses are expected to follow suit.
The Nikkei finished sharply higher on Thursday following gains from the financial shares and technology stocks, while the automobile stocks were soft.
For the day, the index spiked 1,151.24 points or 1.65 percent to finish at 71,053.49 after trading between 70,092.94 and 71,398.58.
Among the actives, Nissan Motor tumbled 1.94 percent, while Mazda Motor shed 0.61 percent, Toyota Motor lost 0.59 percent, Honda Motor eased 0.11 percent, Softbank Group rallied 4.49 percent, Mitsubishi UFJ Financial collected 3.12 percent, Mizuho Financial vaulted 3.04 percent, Sumitomo Mitsui Financial soared 4.31 percent, Mitsubishi Electric accelerated 3.29 percent, Sony Group slumped 1.10 percent, Panasonic Holdings jumped 2.50 percent and Hitachi improved 2.11 percent.
The lead from Wall Street is firm as the major averages opened higher and remained in the green throughout the trading day.
The Dow added 72.15 points or 0.14 percent to finish at 51,56.70, while the NASDAQ rallied 496.28 points or 1.91 percent to close at 26,517.93 and the S&P 500 jumped 80.48 points or 1.08 percent to end at 7,500.58.
For the holiday shortened week, the NASDAQ shot up by 2.4 percent, the S&P 500 advanced by 0.9 percent and the Dow climbed by 0.7 percent. The markets are closed on Friday for the Juneteenth holiday.
The rebound on Wall Street reflected a positive reaction to news the U.S. and Iran have officially signed a preliminary agreement to end the Middle East war.
Intel (INTC) fueled a rally by semiconductor stocks on reports that Apple (AAPL) has agreed to work with the company to design and build its chips in the U.S.
In U.S. economic news, a report released by the Labor Department showed a modest pullback in first-time claims for U.S. unemployment benefits last week.
Crude oil prices edged lower on Thursday after the reopening of the Strait of Hormuz and the resumption of the free flow of oil from the gulf. West Texas Intermediate crude for July delivery was down $0.53 or 0.69 percent at $76.26 per barrel.
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