Nikkei 225 Surges Amid Hopes for U.S.-Iran Agreement

Japan's benchmark Nikkei 225 index soared past the 62,000 mark for the first time, closing at 62,915.87, up 5.71% from Friday's close. This surge follows a five-day market closure and reflects investor optimism over potential U.S.-Iran negotiations to reopen the Strait of Hormuz.

The broader TOPIX index also advanced, rising 3.35% to 3,853.64. The rally was led by technology shares, with companies like Tokyo Electron and Advantest seeing significant gains.

In the United States, markets responded positively to reports of a possible U.S.-Iran agreement. The S&P 500 climbed 1.5%, setting a new record, while the Dow Jones Industrial Average and the Nasdaq composite also posted gains.

Oil prices, which had been volatile due to tensions in the Middle East, stabilized. Brent crude held above $100 a barrel after an initial drop of nearly 8%, while U.S. benchmark crude also steadied.

The potential reopening of the Strait of Hormuz is seen as a significant development, as the waterway is a critical route for global oil shipments. A resolution could alleviate supply concerns and contribute to economic stability.