Japan’s Nikkei closed above the key 60,000 mark for the first time on Monday as optimism over corporate earnings overshadowed concerns about the Middle East conflict, Reuters reports.

The benchmark Nikkei 225 Index rose 1.38 per cent to finish the session at an unprecedented 60,537.36. The broader Topix climbed 0.5pc to 3,735.28. The Nikkei has gained 18.6pc so far this year.

Major indexes on Wall Street closed at record highs on Friday after Intel beat its earnings estimate, helped by surging demand in the artificial intelligence sector. The Philadelphia SE Semiconductor Index extended its record run of gains to 18 consecutive sessions.