TOKYO: Japan’s Nikkei share average climbed on Monday as investors largely shrugged off US President Donald Trump’s latest threat to attack Iranian infrastructure, and instead focused on signs the Middle East conflict could de-escalate.
The Nikkei was up 1.10% at 53,709.58, as of 0116 GMT, while the broader Topix gained 0.53% to 3,664.43.
On Sunday, Trump warned that the US could target Iran’s power plants and bridges as early as Tuesday if the strategic Strait of Hormuz is not reopened. Trump’s repeated threats to destroy civilian infrastructure have put global traders on edge for reciprocal attacks by Iran on targets in the Gulf states.
However, he also suggested a diplomatic breakthrough may imminent, saying a deal with Iran could be reached as soon as Monday and that negotiations with Iran were already underway, according to a Fox News report.
“Trump has become like the boy who cried wolf,” said Takamasa Ikeda, senior portfolio manager at GCI Asset Management.
“If he were really willing to attack Iran’s facilities, he would have done it already.
The market started eyeing the withdrawal of the US, and the start of the post-war negotiations between allied nations without the US“ The Nikkei is set to rally for a third consecutive session on Monday, but it is too early to be optimistic about the outlook with the yen remaining weak against the dollar, and oil prices being under upward pressure.
In Japan, chip and artificial intelligence-related stocks climbed, with Advantest and SoftBank Group rising 2.9% and 1.7%, respectively. Shares of Tokyo Electron gained 1%. Energy sectors rose, with oil refiners and energy explorers rising more than 1% each.
Insurer T&D Holdings fell 6.2% to become the biggest percentage loser on the Nikkei.
Of more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 76% rose and 19% fell, with 3% trading flat.
TOKYO: Japan’s Nikkei share average climbed on Monday as investors largely shrugged off US President Donald Trump’s latest threat to attack Iranian infrastructure, and instead focused on signs the Middle East conflict could de-escalate.
The Nikkei was up 1.10% at 53,709.58, as of 0116 GMT, while the broader Topix gained 0.53% to 3,664.43.
On Sunday, Trump warned that the US could target Iran’s power plants and bridges as early as Tuesday if the strategic Strait of Hormuz is not reopened. Trump’s repeated threats to destroy civilian infrastructure have put global traders on edge for reciprocal attacks by Iran on targets in the Gulf states.
However, he also suggested a diplomatic breakthrough may imminent, saying a deal with Iran could be reached as soon as Monday and that negotiations with Iran were already underway, according to a Fox News report.
“Trump has become like the boy who cried wolf,” said Takamasa Ikeda, senior portfolio manager at GCI Asset Management.
“If he were really willing to attack Iran’s facilities, he would have done it already.
The market started eyeing the withdrawal of the US, and the start of the post-war negotiations between allied nations without the US“ The Nikkei is set to rally for a third consecutive session on Monday, but it is too early to be optimistic about the outlook with the yen remaining weak against the dollar, and oil prices being under upward pressure.
In Japan, chip and artificial intelligence-related stocks climbed, with Advantest and SoftBank Group rising 2.9% and 1.7%, respectively. Shares of Tokyo Electron gained 1%. Energy sectors rose, with oil refiners and energy explorers rising more than 1% each.
Insurer T&D Holdings fell 6.2% to become the biggest percentage loser on the Nikkei.
Of more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 76% rose and 19% fell, with 3% trading flat.
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