Japan's Nikkei Stock Average Retreats from 4-Month High as Threat of US Involvement in Iran Conflict Looms
Yomiuri Shimbun file photo
The Tokyo Stock Exchange
TOKYO, June 19 (Reuters) – Japan's Nikkei share average retreated from a four-month high on Thursday as the threat of war between the United States and Iran dampened demand for higher-yielding assets.
The Nikkei 225 Index .N225 slid 0.8%, snapping a three-day rise that lifted the gauge to the highest since February 20. The broader Topix .TOPX lost 0.6%.
The Israel-Iran conflict entered its seventh day, and President Donald Trump was ambiguous about whether the U.S. would join in bombardment of Iran's nuclear sites.
'Heightened tensions in the Middle East continue to cool investor sentiment, with the downside appearing to widen,' said Nomura strategist Fumika Shimizu.
There were 48 advancers on the Nikkei against 175 decliners. The biggest losers were Taiyo Yuden 6976.T, down 3.1%, followed by Sumitomo Pharma 4506.T, which lost 3%.
The largest gainer was Nippon Steel Corp 5401.T, surging 4.3% after it completed its long-simmering $14.9 billion acquisition of U.S. Steel X.N.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NHK
4 hours ago
- NHK
US Federal Reserve holds interest rates steady again
The tariffs imposed by US President Donald Trump have led to hard choices for policymakers at the Federal Reserve. The Fed decided on Wednesday to keep interest rates unchanged for the fourth straight time. Policymakers released a statement saying recent indicators suggest that economic activity has continued to expand at a solid pace, and unemployment is low. However, they said inflation remains somewhat elevated, and they are concerned about how trade policy will impact prices. At a news conference, Federal Reserve Chair Jerome Powell said: "It takes some time for tariffs to work their way through the chain of distribution to the end consumer. A good example of that would be goods being sold at retailers today may have been imported several months ago before tariffs were imposed. So we're beginning to see some effects, and we do expect to see more of them over coming months." Policymakers are expected to cut interest rates twice by the end of the year. Powell said they need to feel confidence that inflation is coming down. He added that, "without tariffs, confidence would be building." Trump has renewed his criticism of Powell, calling him "stupid," "political" and saying he is "too late" at lowering rates. However, Powell is maintaining a cautious stance. He stressed to Trump last month that policymakers will base their decisions on objective and non-political analysis.
Nikkei Asia
5 hours ago
- Nikkei Asia
Nippon Steel set to complete $14bn acquisition of US Steel next week
TOKYO -- U.S. President Donald Trump on Friday cancelled the decision by former President Joe Biden to block Nippon Steel's acquisition of U.S. Steel, paving the way for the Japanese company to finalize its takeover of its American counterpart. Nippon Steel is expected to complete the acquisition on Wednesday U.S. time, buying all U.S. Steel shares for $14.1 billion.
Yomiuri Shimbun
5 hours ago
- Yomiuri Shimbun
Japan's Nikkei Stock Average Retreats from 4-Month High as Threat of US Involvement in Iran Conflict Looms
Yomiuri Shimbun file photo The Tokyo Stock Exchange TOKYO, June 19 (Reuters) – Japan's Nikkei share average retreated from a four-month high on Thursday as the threat of war between the United States and Iran dampened demand for higher-yielding assets. The Nikkei 225 Index .N225 slid 0.8%, snapping a three-day rise that lifted the gauge to the highest since February 20. The broader Topix .TOPX lost 0.6%. The Israel-Iran conflict entered its seventh day, and President Donald Trump was ambiguous about whether the U.S. would join in bombardment of Iran's nuclear sites. 'Heightened tensions in the Middle East continue to cool investor sentiment, with the downside appearing to widen,' said Nomura strategist Fumika Shimizu. There were 48 advancers on the Nikkei against 175 decliners. The biggest losers were Taiyo Yuden 6976.T, down 3.1%, followed by Sumitomo Pharma 4506.T, which lost 3%. The largest gainer was Nippon Steel Corp 5401.T, surging 4.3% after it completed its long-simmering $14.9 billion acquisition of U.S. Steel X.N.
