Japan's benchmark Nikkei 225 stock average broke above the 65,000 mark during morning trading on Tuesday, setting a new intraday record high.
The Nikkei was trading at 65,132, up 2.84%, as of 10 a.m. The index closed at 63,339 on Friday, marking a record closing high, before surpassing the 65,000 level in intraday trading.
The Nihon Keizai Shimbun attributed the rally to mounting expectations of an imminent truce agreement between the United States and Iran, along with gains in the three major US stock indexes on Friday. JP Morgan projects the Nikkei will reach the 70,000 level by year-end.
