Japan’s Nikkei Closes at Record High, Wiping Out Iran War Losses

Japan’s Nikkei 225 Stock Average ended the day at a new record high, erasing its losses from the Iran war on optimism the new peace talks may hasten the end to the conflict.

The blue-chip index rose 2.4% to 59,518.34 as of market close in Tokyo, above the all-time peak of 58,850.27 marked on Feb. 27. The broader Topix climbed 1.2%. Export-related stocks including the automotive, electronics and information technology sectors performed well, while real estate and food shares retreated.