Nikkei Average Closes above 71,000 for 1st Time

Tokyo, June 18 (Jiji Press)--Japan's benchmark Nikkei 225 stock average closed above 70,000 and even 71,000 for the first time on Thursday as it extended a record-breaking run to a fourth session.

The index of 225 selected issues on the Tokyo Stock Exchange's top-tier Prime section rose 1,151.24 points, or 1.64 pct, from Wednesday to 71,053.49. The broader TOPIX index climbed 54.95 points, or 1.37 pct, to 4,068.18, also hitting a fresh record closing high.

Relief spread among market participants over the situation in the Middle East, following news reports that U.S. President Donald Trump and Iranian President Masoud Pezeshkian had signed a memorandum of understanding for their nations to end fighting.

"Investors' risk appetite increased further," an official of a major securities firm said.

Artificial intelligence- and semiconductor-related stocks, especially memory chip maker Kioxia Holdings, attracted buying, reflecting an overnight rise in the U.S. SOX Philadelphia semiconductor index.

[Copyright The Jiji Press, Ltd.]