Nikkei Hits New Record, Risk Sentiment Improves After Wall Street Rally
The Nikkei 225 index surged 2.38% to close at 59,518 on Thursday (April 16), setting a new record high. The rally was driven by market optimism over the possibility of a deal to end the Middle East conflict, after reports suggested Washington and Tehran were considering extending the ceasefire by two weeks to provide space for negotiations.
Despite hopes for de-escalation, the market remains vigilant about the risks of the Strait of Hormuz, which is said to remain effectively closed under a double blockade. This condition keeps the market sensitive to geopolitical developments and potential energy disruptions, although risk appetite was more dominant this session.
Japanese stocks also followed Wall Street's overnight record-breaking rally, supported by a combination of solid bank earnings and a renewed interest in technology stocks. Technology and AI-themed stocks led the gains, with SoftBank Group rising 5.1%, Kioxia Holdings 4.5%, and Fujikura 4.7%.
Outside of the technology market, Daikin Industries surged 9.1% after activist investor Elliott Investment Management revealed its shareholdings and pushed for reforms to unlock shareholder value. This move confirms that sentiment in the Nikkei is driven not only by global factors but also by specific corporate catalysts that attract selective buying. (asd)
Source: Newsmaker.id
