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

Boosted by hopes for progress in US-Iran talks and gains on Wall Street

Kioxia surges another 6%

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

The benchmark opened sharply higher in Tokyo trading, with its gain briefly topping 1,600 points in early dealing. The rally pushed the index into the 65,000 range for the first time during a session, tracking overnight gains on Wall Street. As of 10 a.m., the Nikkei was up 2.84% at 65,132.

On May 22, sentiment improved in New York as expectations grew that talks between the US and Iran were making progress. The Dow Jones Industrial Average hit a record high for a second straight session. Semiconductor shares led the broader advance as optimism over expanding artificial intelligence investment spurred buying.

The Philadelphia Semiconductor Index, or SOX, rose 2% that day. Strength in US technology stocks carried over to Tokyo, where buying centered on Japanese semiconductor equipment and materials makers. NAND producer Kioxia Holdings was up 5.94% at 60,810 yen.

Some investors say Japanese equities are entering a new phase as global funds 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.

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