Nikkei 225, for the first time ever 65,000breakthrough and oil prices fall, lifting Asian markets
In Asian trading on Monday, Japan’s Nikkei 225broke through 65,000for the first time ever. The Nikkei closed 3.04% higher, as expectations of the Strait of Hormuz reopening sent oil prices lower and boosted risk appetite.
In Asian trading on Monday, Japan’s Nikkei 225broke through 65,000for the first time ever. The Nikkei rose 3.04% at the close. Trading was thin during the session due to a holiday in Japan.
Expectations that the Strait of Hormuz would reopen pushed oil prices lower. The decline in oil prices lifted investors’ risk appetite. As a result, major Asian indexes broadly closed higher.
Australia’s S&P/ASX 200rose 0.40% at the close. The gains in Asian markets came in trading ahead of the European open. Europe was expected to open higher, tracking the Asian trend.
Negotiations between the United States and Iran were ongoing. News related to the talks, along with fluctuations in oil prices, influenced market movements. Overall trading that day saw thin volumes in some periods.
In summary, the Nikkei’s historic rise coincided with falling oil prices, creating a risk-on mood in Asian markets. This trend affected the opening of European trading. Trading volume and geopolitical news were important factors in the market that day.
Sources: CNBC Top News,Investing.com News
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