Nikkei Surges past 62,000 amid Middle East Hopes

Tokyo, May 7 (Jiji Press)--Japan's benchmark Nikkei 225 stock average soared past the 62,000 threshold for the first time ever on an intraday basis on Thursday morning, amid hopes for an early end to the U.S.-Iran conflict.

The index of 225 selected issues on the Tokyo Stock Exchange's top-tier Prime section finished the morning session at 62,915.87, up 3,402.75 points, or 5.71 pct, from Friday. The Tokyo market was closed from Monday through Wednesday for national holidays.

The broader TOPIX index advanced 124.91 points, or 3.35 pct, to 3,853.64.

Following the five-day market closure, Tokyo stocks shot up from the start of Thursday's session, tracking overnight gains in U.S. equities on a media report that the United States and Iran were nearing a deal to end their conflict.

A plunge in U.S. crude oil futures also helped improve overall investor sentiment, though some oil-related stocks were sold.

[Copyright The Jiji Press, Ltd.]