Japanese Shares Gain as Oil, Yields Retreat

The Nikkei 225 Index rose 1.3% to close at 66,364 on Friday, extending its winning streak to five sessions as oil prices retreated and the global bond selloff eased, offering some relief to equities. Oil prices declined on reports that the US and Iran were exploring a phased agreement that could reopen the Strait of Hormuz and lift a US blockade on Iranian ports. Global bond yields also stabilized after a sharp two-day rally, while Japan’s 10-year government bond yield pulled back slightly from its highest level since 1996. Elsewhere, Presidents Donald Trump and Xi Jinping concluded their bilateral talks in Washington, with Trump describing the meeting as “great.” Technology stocks led the gains, with Kioxia Holdings rising 2.2%, Advantest gaining 2.8% and Ibiden Co advancing 4.2%. Financial stocks also outperformed, including Mitsubishi UFJ, up 4%, Sumitomo Mitsui, up 3.6%, and Mizuho Financial, up 4.2%.