The Nikkei 225 has surged past 65,000 for the first time, with various outlets citing factors such as hopes for a peace deal or ceasefire involving Iran, a potential reopening of the Hormuz, and easing Middle East risk. Some reports also mention a surge in AI and semiconductor stocks as contributing to the rally. The exact reasons for the record-breaking rally are not universally agreed upon, but it is clear that the Nikkei 225 has reached a new high.