Asian Stocks Rise on Japan as Iran Optimism Builds: Markets Wrap

Asian equities climbed to a record, powered by a rally in Japanese stocks on their return from a break, as optimism grew that the US and Iran were nearing a deal to end the conflict that had rattled markets and clouded the economic outlook.

The Nikkei 225 Index climbed 4.4% to an intraday high and helping the broader MSCI Asia Pacific Index rise 0.7% on speculation the easing of tensions in the Middle East will ease oil prices and help lift economic growth. Asian gains followed US gauges closing at record highs on Wednesday as traders boosted bets on stocks with about 80% of companies in the S&P 500 Index reporting better-than-estimated earnings in the current season.