The Nikkei 225 Stock Average in Japan closed at a historic peak, driven by market optimism that a new round of peace talks could hasten the end of the conflict, enabling the index to recover all declines incurred during the Iran tensions. At the close of trading in Tokyo, the blue-chip index rose 2.38% to 59,518.34 points, surpassing the previous record high of 58,850.27 points set on February 27. The Topix index advanced 1.2%. Export-oriented sectors such as automobiles, electronics, and information technology performed strongly, while real estate and food sectors experienced declines. Global equity markets have nearly returned to pre-conflict levels. Both the S&P 500 and Nasdaq 100 indices closed at record highs. Reports indicate that the United States and Iran are considering extending the ceasefire by two weeks to allow more time for agreement negotiations. An analyst commented that the Nikkei's new high may signal Japanese equities are moving toward a "new normal." As long as U.S.-Iran negotiations do not break down, the Topix index could also reach new highs in the future. The Nikkei is now only 0.8% away from the psychologically significant 60,000-point level. The current rally extends a multi-year uptrend in Japanese stocks, fueled by corporate governance reforms, a weaker yen, and positive developments in the artificial intelligence sector. This surge has produced some of the world's best-performing chip stocks and attracted record inflows from overseas funds and activist investors. However, with oil prices remaining elevated, market participants are growing increasingly pessimistic about the upcoming earnings season in Japan. Tensions in the Strait of Hormuz persist, and the key waterway for oil and gas shipments has been largely blocked since the conflict began. Despite these concerns, robust earnings from U.S. companies continue to support the market. The earlier gains were primarily driven by technology stocks, but the current upward trend is now broadening to include more sectors.