The Nikkei Index rose 2.9% to hit a record high, with semiconductor stocks leading the gains.

Thanks to the ongoing hope for peace talks between the US and Iran, the Nikkei index in Japan closed up 2.9% at 65,158.19 points, reaching a historic high. Chip-related stocks led the gains, with Kioxia jumping 14% and Lasertec rising 13%. As concerns about inflation eased with the decline in oil prices, the yield on Japan's 10-year government bonds fell by 7 basis points to 2.690%. Investors are now focusing on the developments in the Middle East after US President Trump said on Sunday that he is not in a rush to reach a peace agreement with Iran. The dollar was at 158.90 yen, while in the New York market on Friday evening it was at 159.19 yen.