Asian markets rally as Nikkei 225 jumps 2.6%
Nikkei-led gains, a 15% surge in SoftBank shares and a fall in oil prices after Donald Trump’s remarks lifted investor sentiment.
Asian stock markets opened sharply higher, led by the Nikkei 225 which rose 2.6 percent at the start of trading.
The advance followed a strong rebound on Wall Street, where major U.S. indices recovered most of last week’s losses. Market breadth was broad-based, with the Philadelphia Semiconductor Index jumping 6.85 percent.
Drivers of the rally
Investor attention focused on SoftBank Group, whose shares surged 15 percent ahead of the company’s scheduled financial results. Taiwan’s main index also recorded notable gains, rising 2.95 percent on the open — an increase of more than 1,000 points.
On Wall Street, the Dow Jones rose 2.15 percent, the S&P 500 gained 2.35 percent and the Nasdaq climbed 2.74 percent, helping set a positive tone for Asian trading.
Traders said the rally was supported by easing geopolitical concerns in the Middle East. Comments by Donald Trump suggesting that a continuation of strikes on Iran is unlikely if there is progress in talks contributed to lower oil prices and helped improve investor sentiment.
Photo: Syced / Wikimedia Commons (CC0)
