Nikkei rises on US-Iran ceasefire hopes, trades near 65,900 yen

2026-05-29

At the Tokyo Stock Exchange open on the morning of the 29th, the Nikkei Stock Average started higher and was trading around 65,900 yen, about 1,200 yen above the previous day. Major US stock indexes all hit record highs the previous day, supported by hopes for an end to fighting between the US and Iran. In Tokyo as well, broad-based buying led by artificial intelligence (AI) and semiconductor-related shares came first, pushing the Nikkei above its closing record of 65,158 yen set on the 25th.

Following the rise in US stocks

On the 28th, the Nasdaq Composite Index, which has a high weighting of technology shares, hit a record high for the third straight day in the US stock market. Semiconductor shares including data analytics platform Palantir Technologies and Qualcomm were bought, and the Philadelphia Semiconductor Index (SOX), composed of major semiconductor-related stocks, rebounded to end up 0.99%. Following this trend, shares such as SoftBank Group (SBG), Advantest and Tokyo Electron are also rising in Tokyo.

Ceasefire deal report lends support

US news site Axios reported on the 28th that the US and Iran had agreed to extend the ceasefire period by 60 days and sign a memorandum to discuss Iran's nuclear issue. The memorandum includes provisions that shipping through the Strait of Hormuz will not be restricted, and it is said to be awaiting final approval from US President Donald Trump. It has also been reported that the Iranian side denies the contents, but views are spreading that the end of fighting is near, supporting share prices. The Tokyo Stock Price Index (TOPIX) is also rebounding.

Individual stocks mixed

Among individual stocks, Ibiden, Recruit and Kyocera rose. On the other hand, Fujikura and Mitsui O.S.K. Lines fell.

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