Japan's Nikkei gauge crosses 71,000 on US-Iran peace deal

Japan's Nikkei share gauge surged past the 71,000 level for the first time on Thursday as a ceasefire deal between the U.S. and Iran boosted demand ‌for risk assets.

The ⁠benchmark ⁠Nikkei 225 jumped 1.88% to 71,219.45, after touching ​an intraday high of 71,293.64. The broader Topix gained ​1.67% to 4,080.26. The U.S. and Iran released the text of an interim ​agreement to end their war, ⁠with U.S. ‌President Donald Trump threatening ​to resume ​attacks and kill Iranian officials ⁠if they failed to honour their commitments.

Markets ​in Asia also reacted to ​a hawkish tilt by the U.S. Federal Reserve, which held interest rates steady. The dollar strengthened broadly, while the yen touched a near two-year low, approaching ‌levels that prompted Tokyo to intervene in markets. Chip-related shares led ​the Nikkei's ​gain, with ⁠Socionext jumping 9.19% and Screen Holdings rising 4.96%. Financial stocks also advanced, with Mitsubishi UFJ Financial Group ​up 2.44%. Marine transportation stocks lagged, with Nippon Yusen falling 2.08%.