Japan's Nikkei share index up more than 4% on Trump-Iran 'deal'

Japan’s Nikkei 225 jumped more than 4% as markets reacted positively to reports of a Trump-Iran deal framework, interpreted as a de-escalation in geopolitical risk. The rally was led by technology shares, while the broader Topix rose 2.2%. The article suggests the agreement is still only an MOU, with a 60+ day ceasefire, phased sanctions relief, reopening of the Hormuz Strait within 30 days, and ongoing nuclear negotiations. Investors appear to be pricing in lower near-term conflict risk, which is supportive for risk assets in Japan and across Asian equities, including South Korea’s Kospi, which was also sharply higher.