Japan\u2019s Nikkei 225 rose 2.19% on Thursday, retreating from earlier record highs that were driven by strength in technology and consumer cyclical stocks. Daikin Industries was the top performer on the index after activist investor Elliott Investment Management pressed the company to improve performance and close its valuation gap with peers. The broader Topix index added 1.33%.<\/p>\n
Across the region, South Korea\u2019s Kospi advanced 1.96%, while the small-cap Kosdaq rose 1.36%. India\u2019s Nifty 50 climbed 0.56%. Mainland China\u2019s CSI 300 index gained 0.90%, and Hong Kong\u2019s Hang Seng index rose 1.41%, extending early-session advances. Australia\u2019s S&P\/ASX 200 diverged from the broader regional trend, slipping 0.32%.<\/p>\n
Asian markets followed overnight gains in U.S. equities, where hopes of a U.S.-Iran agreement have driven a broad rally this week. The S&P 500, which fully recovered its Iran war-related losses on Monday, has risen 3% so far this week. The Nasdaq has added around 5%, and the Dow Jones Industrial Average has gained more than 1%.<\/p>\n
On Wednesday, President Donald Trump said in a Fox Business interview that the Iran war is \u201cvery close to over,\u201d stating that Tehran wants to \u201cmake a deal very badly.\u201d A White House official told CNBC on Tuesday that a second round of negotiations between Washington and Iran is under discussion.<\/p>\n
Overnight, the S&P 500 gained 0.80% to close at 7,022.95. The Nasdaq Composite advanced 1.59% to 24,016.02, while the Dow Jones Industrial Average fell 72.27 points, or 0.15%, to finish at 48,463.72. Both the S&P 500 and Nasdaq ended at record highs, with the Nasdaq posting an 11th consecutive winning session and the S&P 500 recording gains in 10 of the past 11 sessions.<\/p>\n
China\u2019s economy accelerated in the first quarter, supported by robust export growth that helped offset weak domestic demand. Gross domestic product expanded 5% in the three months to March, up from 4.5% in the previous quarter and exceeding economists\u2019 expectations for 4.8% growth, according to data from the National Statistics Bureau released Thursday. However, the outlook remains clouded by an energy shock linked to the Iran war, which is weighing on global demand prospects.<\/p>\n
Oil prices were volatile in Thursday trading. West Texas Intermediate crude rose 0.39% to $91.65 per barrel, while international benchmark Brent crude was flat at $94.96 per barrel.<\/p>\n
Why did Japan\u2019s Nikkei 225 reach a record high?<\/strong> Which stock was the top performer on the Nikkei 225?<\/strong> How did major U.S. indices perform overnight?<\/strong>
The Nikkei 225 hit a record high driven by gains in technology and consumer cyclical stocks, with sentiment supported by a broader rally in global equities tied to hopes of a U.S.-Iran peace deal.<\/p>\n
Daikin Industries was the top performer after activist investor Elliott Investment Management pushed the company to improve its performance and narrow its valuation gap with peers.<\/p>\n
The S&P 500 rose 0.80% to 7,022.95, the Nasdaq Composite gained 1.59% to 24,016.02, and the Dow Jones Industrial Average fell 0.15% to 48,463.72, with both the S&P 500 and Nasdaq closing at record highs.<\/p>\n