The Nikkei 225 index closed at a record high 62,833.84, on May 7 after optimism for an end to the Iran war led to unprecedented gains on the Tokyo Stock Exchange.

The benchmark index obliterated its previous record closing price of 60,537.36 set on April 27, and the gain of 3,320.72 points shattered the high of 3,217 set on Aug. 6, 2024.

Trading in Tokyo was closed during the Golden Week holidays after May 1.

The Nikkei index opened at 60,241.31 when trading started on May 7, up 728.19 from the May 1 close.

Its gains rapidly expanded and at one point hit an intraday record high of 63,091.14. 

The rally in Tokyo was fueled by gains on Wall Street on May 6.

The Dow Jones Industrial Average finished…