Nikkei 225 Surpasses 60,000 Mark Amid Tech Rally and Geopolitical Tensions

On April 23, 2026, Japan's Nikkei 225 index crossed the 60,000 threshold for the first time, reaching an intraday high of 60,013.98. This milestone reflects a significant recovery, as the index has regained all losses incurred since the onset of the U.S.-Iran war in late February. However, the Nikkei ultimately closed at 59,140.23, down 0.75% for the day, indicating volatility amid geopolitical concerns.

Japan’s Nikkei crosses key 60,000 level for first time on tech rally

The surge in the Nikkei was primarily fueled by strong performances in technology stocks. Notably, SoftBank Group saw an 8.9% increase, while chip-related companies like Advantest and Tokyo Electron also contributed positively, rising 2.65% and 0.81%, respectively. The rally was bolstered by improved global risk sentiment following U.S. President Donald Trump's announcement of an indefinite ceasefire with Iran, mediated by Pakistan. This development alleviated immediate fears of escalation in the Middle East, a region critical to global energy supplies.

Global Market: What drove the Nikkei past the 60,000 mark today

Despite the overall gains, the rally was not broad-based. Of the 1,600 shares on the Tokyo Stock Exchange’s prime market, only 17% rose, while 78% fell. The broader Topix index, which includes a wider range of stocks, declined 0.76%, highlighting a divergence between large-cap tech-driven gains and the overall market performance. The weak Japanese yen, trading near ¥160 to the U.S. dollar, has also impacted domestic companies, increasing import costs and affecting profitability for those reliant on local sales.

Japan’s Nikkei crosses key 60,000 level for first time on tech rally

Market analysts have expressed concerns about the sustainability of the Nikkei's gains. Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management, noted that uncertainties surrounding the Middle East conflict persist, particularly with the Strait of Hormuz not fully open and oil prices remaining elevated. This situation could hinder further advances in the index unless more positive economic indicators emerge to support domestic demand.

Asia Stocks Slip From Record Highs as Oil Surges Above $100 and Nikkei Fails to Hold 60,000

Japanese Finance Minister Satsuki Katayama emphasized the close communication between Tokyo and Washington regarding exchange rates, hinting at potential intervention if necessary. This statement underscores the government's awareness of the economic pressures stemming from the weak yen and high energy costs.

TheStreet

• “Markets look very on edge,” — Charu Chanana, Chief Investment Strategist at Saxo

Asia Stocks Slip From Record Highs as Oil Surges Above $100 and Nikkei Fails to Hold 60,000

• “There are still uncertainties surrounding the Middle East war.” — Hiroyuki Ueno, Chief Strategist at Sumitomo Mitsui Trust Asset Management

Japan’s Nikkei crosses key 60,000 level for first time on tech rally

• “5% gain since the start of the Iran war.” — Market Analyst

TheStreet

While the Nikkei 225's crossing of the 60,000 mark is a significant achievement, the underlying market dynamics and geopolitical tensions suggest that the momentum may be fragile. Investors remain cautious as they navigate the complexities of both domestic economic conditions and international relations.

Global Market: What drove the Nikkei past the 60,000 mark today