Asian Stocks Rise As Nikkei Hits All-Time High; SoftBank Surges 15%, Oil Tops $100 Per Barrel
· Free Press Journal
Mumbai: Equity indices in Asia gained Thursday, even as fresh concerns about the fragile peace deal resurfaced after US President Trump said Iran will be bombed "at a much higher level" if it doesn't agree to a peace deal. Brent Crude oil futures topped the $100 per barrel level again. Equity markets in Japan reopened on a strong note after being closed for three public holidays.
The benchmark Nikkei 225 touched an all-time-high, supported by gains in electronics and technology stocks. Shares of heavyweight Softbank Group Corp. surged as much as 15% intraday. Shares of Mitsui Kinzoku, Renesas Electronics, and Daikin Industries rose 8-15%.
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Sensex Surges Over 900 Points; Investors Gain ₹5 Lakh Crore On WednesdayOn the macroeconomic front, the Bank of Japan, in the minutes of its recent monetary policy meeting, highlighted that the impact of the war in West Asia on Japan's economy would depend on how long the war continues and in what form it takes.
The members pointed out that more information was needed for the central bank to revise the baseline scenario of its outlook. As for prices, the committee members expect inflationary pressure to persist due to high crude oil prices. Meanwhile, the South Korean benchmark index KOSPI was up marginally after touching a fresh high Wednesday.
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