Japan's Nikkei retreats from 4-month high as threat of US involvement in Iran conflict looms
TOKYO: 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 slid 0.8%, snapping a three-day rise that lifted the gauge to the highest since February 20. The broader Topix lost 0.6%.
The Israel-Iran conflict entered its seventh day, and President Donald Trump was ambiguous about whether the US 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.
Japan's Nikkei climbs for fourth day on US-China trade framework; Hino plunges
There were 48 advancers on the Nikkei against 175 decliners. The biggest losers were Taiyo Yuden, down 3.1%, followed by Sumitomo Pharma, which lost 3%.
The largest gainer was Nippon Steel Corp, surging 4.3% after it completed its long-simmering $14.9 billion acquisition of US Steel.
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