Aerial view of Mt. Fuji, Tokyo Tower and modern skyscrapers in Tokyo on a sunny day.
Yongyuan | E+ | Getty Images
Japan stocks rose more than 5% on Thursday, with the benchmark Nikkei 225 hitting 62,000 for the first time as Asia-Pacific markets rallied despite renewed tensions in the Middle East.
The broader regional advance came after President Donald Trump warned Iran would be bombed “at a much higher level” if it failed to agree to a peace deal.
The Nikkei 225 advanced 5%, led by gains in basic materials, technology and financial stocks. Shares of index heavyweight Softbank surged more than 13%.
Electronics company Ibiden was the top performer, climbing 17%, while manufacturing and metals company Mitsui Kinzoku gained 16%. Renesas Electronics also added 13%, and chemical and materials firm Tosoh Corporation soared 12%.
The Topix also advanced 2.37%. In Australia, the S&P/ASX 200 rose 0.9%.
South Korea’s Kospi reversed gains, falling 0.68%, while the small-cap Kosdaq Index slid 0.56%. Hong Kong’s Hang Seng index jumped 1.47% while mainland China’s CSI 300 edged 0.38% higher.
Trump’s fresh threats came as reports suggested Washington and Tehran were nearing an agreement to end the war.
The president in a Truth Social post said the U.S. military offensive known as Operation Epic Fury “will be at an end” if Iran “agrees to give what has been agreed to, which is, perhaps, a big assumption.”
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If that happened, the U.S. naval blockade of Iranian ports in the Gulf of Oman would “allow the Hormuz Strait to be OPEN TO ALL, including Iran,” Trump wrote.
West Texas Intermediate futures for June was 0.92% higher at $95.95 per barrel as of 7:19 p.m. ET.