Japan’s market hub owned by JPX; oversees Japan’s equity landscape
The United States and Iran have reached a memorandum of understanding that has declared an immediate, permanent end to military operations on all fronts, including in Lebanon, and will reopen the Strait of Hormuz and lift the U.S. naval blockade. Leaders have scheduled a formal signing in Switzerland for 19 June and will begin technical talks over a final agreement.
Global markets are mixed as investors digest news of a framework for a long-term Iran peace deal. Oil prices have fallen sharply, and major indices climbed in US trading after the deal signals potential sanctions relief and production shifts across the Middle East.
Firms with the smallest free-float market caps on the Tokyo Stock Exchange are being phased out of the Topix benchmark over two years starting in October, potentially triggering a scramble among smaller firms as passive funds redirect about $1 trillion. The overhaul tackles investor concerns about illiquid, micro-cap stocks inflating index replication costs.