World Shares Higher Thursday           05/07 04:50

   World shares jumped on Thursday, with Tokyo's Nikkei 225 gaining almost 6% 
to a new record as investors waited to see if the U.S. and Iran will strike a 
deal allowing tankers to deliver crude from the Persian Gulf again.

   (AP) -- World shares jumped on Thursday, with Tokyo's Nikkei 225 gaining 
almost 6% to a new record as investors waited to see if the U.S. and Iran will 
strike a deal allowing tankers to deliver crude from the Persian Gulf again.

   Japan's benchmark Nikkei 225 index jumped more than 3,300 points to 
63,086.00 as markets in Tokyo reopened following "Golden Week" holidays.

   In early European trading, Germany's DAX edged 0.2% higher to 24,988.08 and 
the CAC 40 in Paris was up 0.3% at 8,325.55. Britain's FTSE 100 slipped 0.3% to 
10,411.19.

   The future for the S&P 500 was up 0.1% while that for the Dow Jones 
Industrial Average climbed 0.3%.

   Japan's Nikkei 225 has gained nearly 20% in the past three months and more 
than 70% in the past year, pushed higher by strong buying of tech shares that 
have benefited from the boom in artificial intelligence.

   Computer chip equipment maker Tokyo Electron gained 9% and testing equipment 
maker Advantest Corp. added 6.8%. Shin-Etsu Chemican gained 8.5%.

   "I think it's a kind of bubble because buying activity concentrated on 
leading AI, artificial intelligence stock and semiconductor-related stocks. 
It's a situation where only semiconductor stocks are being bought," said 
Takashi Hiroki, chief strategist at MONEX.

   Elsewhere in Asia, the Hang Seng in Hong Kong gained 1.7% to 26,668.37.

   The S&P/ASX 200 in Australia was up 0.8% at 8,862.40.

   In South Korea, the Kospi reversed early losses, gaining 1.4% to 7,490.05, 
the second straight day it has closed at a record high. The benchmark jumped 
nearly 7% on Wednesday to barrel past 7,000 for the first time.

   Taiwan's Taiex surged 1.9%, lifted by a 3.1% gain for big computer chipmaker 
TSMC.

   On Wednesday, markets rallied worldwide after President Donald Trump said 
the Strait of Hormuz could be "OPEN TO ALL" if Iran accepts a reported 
agreement that the U.S. president did not detail.

   Oil prices fell nearly 8% and the S&P 500 climbed 1.5% for its best day in 
nearly a month, setting a fresh record. The Dow industrials jumped 1.2%, and 
the Nasdaq composite rose 2%.

   However, optimism was tempered by continuing tensions. The U.S. military 
fired on an Iranian oil tanker Wednesday as President Donald Trump sought to 
pressure Tehran into reaching a deal to end the war. The military said in a 
social media post that a fighter jet shot out the rudder of the tanker in the 
Gulf of Oman as the vessel tried to breach an American blockade of Iran's ports.

   Early Thursday in Asian trading, Brent crude oil yoyoed on Thursday, 
shedding early gains to fall 30 cents to $100.97 a barrel. Benchmark U.S. crude 
oil slipped 37 cents to $94.71 a barrel.

   Oil prices sank Wednesday and stock markets rallied worldwide on hopes that 
the United States and Iran were nearing a deal to allow ships to deliver crude 
through the Strait of Hormuz.

   The price for a barrel of Brent crude oil, the international standard, fell 
7.8% to $101.27, down from more than $115 early this week. But after dipping 
below $97 a barrel, it pushed back above $100 after Trump threatened to start 
bombing "at a much higher level and intensity" if Iran does not accept his 
proposed agreement.

   The effective closure of the strait due to the war threatens the global 
economy because the conflict has blocked oil tankers from using it to exit the 
Persian Gulf. A reopening could allow oil to flow freely again and remove 
pressure on inflation that's driving prices up for all kinds of products 
worldwide.

   U.S. stocks have remained resilient despite the war thanks partly to strong 
profit reports by big U.S. companies for the start of 2026.

   Chipmaker AMD helped lead the market Wednesday with a surge of 18.6% after 
it joined the list of big-name companies topping expectations for both profit 
and revenue.

   In other dealings early Thursday, the U.S. dollar fell to 156.39 Japanese 
yen from 156.40 yen. The euro rose to $1.1752 from $1.1747.