Nikkei Hits All-Time High near 63,000 with Record Gain

Tokyo, May 7 (Jiji Press)--Japan's benchmark Nikkei 225 stock average posted a record single-day gain to hit an all-time closing high near 63,000 on Thursday, 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 closed at 62,833.84, up 3,320.72 points, or 5.57 pct, from Friday after briefly topping the 63,000 threshold by rising more than 3,500 yen in the afternoon. The previous record single-day gain was about 3,217 yen, marked on Aug. 6, 2024.

The broader TOPIX index advanced 111.76 points, or 3.00 pct, to 3,840.49.

Following the five-day market closure through Wednesday for national holidays in Japan, 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 the U.S. benchmark West Texas Intermediate crude oil futures contract also helped improve overall investor sentiment.

[Copyright The Jiji Press, Ltd.]