Asia stocks rise past US-Iran jitters; Nikkei hits record high on stimulus cheer in Stock News 03/06/2026 Asian stocks rose on Wednesday as strength in tech and persistent optimism over artificial intelligence helped markets largely look past more strikes between the U.S. and Iran. Japan’s Nikkei 225 was the best performer in the region, hitting a record high on a rally in local tech and industrial names. Local markets were also encouraged by Tokyo doling out more fiscal measures to help support the economy. Regional markets took a positive lead-in from Wall Street, which eked out record highs overnight on continued strength in tech and chipmaking names. S&P 500 Futures steadied in Asian trade. Asian markets were undeterred by a spike in oil prices, after the U.S. and Iran traded a fresh round of airstrikes late-Tuesday. Peace negotiations between the two appeared to have fallen through after reports earlier this week showed Iran backing out of indirect communication with the United States. Nikkei soars to record high on more Japanese stimulus The Nikkei 225 jumped nearly 3% to a record high of 68,645.5 points, while the TOPIX hit a peak of 3,996.22 points. Local markets were boosted by expectations of more stimulus, after Japan’s cabinet approved a draft supplementary budget of 3.11 trillion yen ($19.5 billion) to help tackle high living costs stemming from the Iran war. Prime Minister Sanae Takaichi’s government hopes to secure parliamentary approval for the budget by Friday, with the measure being aimed chiefly at continued subsidies on gas and electricity prices. Takaichi was also set to decide on a consumption tax cut this month. The prospect of more fiscal support for the economy boosted Japanese stocks, with tech and chip shares leading gains on continued optimism over the AI boom. Australia stocks rise as soft GDP diminishes rate hike bets Australia’s ASX 200 rose 0.8% after first-quarter gross domestic product data read slightly weaker than expected. Wh