Nikkei 225 Tops 65,000 for First Time, Hits Fresh Record High

Wall Street rally on hopes for progress in U.S.-Iran talks lifts Tokyo stocks

Kioxia jumps nearly 6% again

Japan’s Nikkei 225 Average climbed above 65,000 for the first time intraday on May 25, setting a fresh record high.

The benchmark opened sharply higher in Tokyo, tracking gains on Wall Street. Early in the session, it rose by more than 1,600 points and entered the 65,000 level for the first time in intraday trading. As of 10 a.m., it was up 2.84% at 65,132.

On May 22, investor sentiment improved in New York as expectations grew for progress in talks between the U.S. and Iran. The Dow Jones Industrial Average set a record high for a second straight session. Semiconductor shares, buoyed by optimism over expanding investment in artificial intelligence, led the broader advance.

The Philadelphia Semiconductor Index, or SOX, rose 2% that day. Strength in U.S. technology shares carried over to Tokyo, spurring buying in Japanese semiconductor equipment and materials stocks. NAND maker Kioxia Holdings was trading at 60,810 yen, up 5.94%.

Market participants say Japanese equities are entering a new phase as global funds continue to flow into AI- and semiconductor-related shares. A weaker yen and expectations for improved corporate earnings have also supported foreign buying of Japanese stocks. JPMorgan projects the Nikkei will reach 70,000 by year-end.

Choi Man-su, Tokyo correspondent, Korea Economic Daily, bebop@hankyung.com