Japan's Nikkei soared as Trump claimed US negotiations ended the Iran war

The Nikkei share average in Japan rose by the most since a week on Wednesday. This was backed up by cautious optimism about the Middle East crisis moving 'towards a possible settlement? after recent volatility.

The Nikkei Index benchmark rose by 2.87%, closing at 53,749.62. This is the largest percentage increase since March 18. The Topix index rose 2.57% to 3,650.99. U.S. president Donald Trump stated on Tuesday that the U.S. is making progress in its efforts to end the war with Iran. Like many global markets in recent years, Japanese stocks have fluctuated amid conflicting signals as to whether the crisis is intensifying or if it's a pause before hostilities. Japan's economy is especially vulnerable to the impact of conflict on oil prices and shipments because it depends on imported energy. Wataru Akiyama is a Nomura Securities strategist. He said that the sharp decline in crude oil prices on Wednesday was the catalyst for the Nikkei's jump.

Akiyama stated that "expectations of a reduction in tensions in the Middle East seem to be driving stock markets higher." "However the feeling of uncertainty is not completely gone."

Nikkei's 225 index saw a broad range of gains.?203 advancers outnumbered 22 decliners.

Tokio Marine Holdings led the rally, rising 14.6% for the second session in a row after Berkshire Hathaway announced it had acquired a stake.

Furukawa Electric and SoftBank Group followed with strong performances. Both companies have benefited from the momentum created by?artificial-intelligence investments.

Recruit Holdings, a company that specializes in energy exploration, led the decliners on the downside with a drop of 1.9%. Inpex Corp., meanwhile, fell 1.7%.

(source: Reuters)