Shares of iPhone and iPad maker Apple (NASDAQ:AAPL) jumped 2.6% in the afternoon session after news broke about a major new partnership to upgrade the iPhone’s satellite features.
Shares of iPhone and iPad maker Apple (NASDAQ:AAPL) jumped 2.6% in the afternoon session after news broke about a major new partnership to upgrade the iPhone’s satellite features.
Japan’s Nikkei 225 Stock Average is headed for a record high close that would erase 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 59,549.59 as of late morning in Tokyo, above the all-time high close of 58,850.27 marked on Feb. 27. The broader Topix climbed 1.3% to 3,820.66. Export-related stocks including the autom...
Japan’s Nikkei 225 Stock Average is headed for a record high close that would erase 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 59,549.59 as of late morning in Tokyo, above the all-time high close of 58,850.27 marked on Feb. 27. The broader Topix climbed 1.3% to 3,820.66. Export-related stocks including the automotive, electronics and information technology sectors performed well, while real estate and food shares retreated. Markets globally are within reach of recovering to pre-war levels. The S&P 500 and Nasdaq 100 indexes both ended at record highs . This comes as the US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a deal, Bloomberg reported. “News is emerging that is reassuring the market regarding the situation in the Middle East,” said Takashi Ito , senior strategist at Nomura Securities Co. He expects Japanese stocks to catch up with US equities. The Nikkei is around 0.75% away from the 60,000 milestone eyed by investors. The gains come from the result of a years-long rally for Japanese equities, driven by corporate governance reforms, the yen’s weakness and AI tailwinds. The boom has produced some of the world’s top-performing chip stocks , and attracted historic inflows from foreign funds and activist investors. To be sure, market participants are monitoring the upcoming earnings season in Japan with an increasingly bleak outlook as oil remains elevated. Tensions remain high over the Strait of Hormuz, a critical waterway for oil and gas that’s been effectively shuttered since the start of the war. That said, solid US earnings are supporting the market, said Takuro Hayashi , head of the investment research department at IwaiCosmo Securities Co. While the previous rally was driven mainly by tech, gains are now broadening, he said.