Japan shares close higher on Middle East de-escalation hopes
(Il Sole 24 Ore Radiocor) - Milano, 14 apr - Japanese shares closed higher as optimism grew over a potential deal between the US and Iran.
Even though formal peace talks ended without an agreement over the weekend, Tehran reached out to Washington just hours after the US began a naval blockade. This move helped lower oil prices and ease concerns about inflation and interest rates.
On the economic data front, Japan's industrial output for February was revised to a 2.0% monthly decline, slightly better than the preliminary reading of a 2.1% drop, according to the Ministry of Economy, Trade and Industry. On an unadjusted annual basis, production saw a 0.4% increase, compared to the initial estimate of 0.3%. Shipments fell an adjusted 1.5% month on month, while inventories were confirmed at a 0.3% monthly increase.
Gains were led by tech and chip stocks, as the Nikkei 225.
closed up 2.43% at 57,877.39 points.
(RADIOCOR) 14-04-26 09:02:57 (0189) 5 NNNN