Tokyo stocks end lower amid uncertainty over Middle East conflict
TOKYO (Kyodo) -- Tokyo stocks ended slightly lower Friday, as many investors refrained from buying amid uncertainty over the intensifying Israel-Iran conflict in the Middle East.
The 225-issue Nikkei Stock Average closed down 85.11 points, or 0.22 percent, from Thursday at 38,403.23. The broader Topix index finished 20.82 points, or 0.75 percent, lower at 2,771.26.
On the top-tier Prime Market, decliners were led by insurance, mining and farm and fishery issues.
The U.S. dollar moved little amid a lack of fresh trading cues in Tokyo after falling to the lower 145 yen range on selling following its three-week high in the upper 145 yen level overnight.
The Nikkei stock index was directionless amid uncertainty over whether Israel and Iran will seek a diplomatic solution, with U.S. President Donald Trump saying he will decide within two weeks whether to strike Iran, brokers said.
"Investors were finding it difficult to tilt their positions to either buy or sell as it is unclear whether the situation in the Middle East will peak or deteriorate due to actions to be taken by the United States," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co.
The ongoing Middle East conflict could have a negative influence on U.S.-Japan tariff negotiations, with Japan's chief negotiator pointing to the possibility of Washington becoming unable to devote time to holding talks with Tokyo, some brokers said.
"I personally feel that the tariff negotiations may not go well" and prompt stocks to start falling, said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NHK
19 minutes ago
- NHK
Vietnam joins BRICS as partner country
Vietnam has been officially admitted as the 10th partner country of the BRICS group of emerging economies. While partners lack decision-making power, they can take part in the BRICS Leaders' Summit. Vietnamese foreign ministry spokesperson, Pham Thu Hang, said in a press conference on Thursday that the country is "ready to coordinate and connect the cooperation programs of the BRICS group with relevant multilateral mechanisms, thereby contributing to peace, stability, cooperation and development in the region, as well as in the world." She also said the country is willing to work with other members in areas such as trade and investment. BRICS was originally made up of the five emerging economies of Brazil, Russia, India, China and South Africa. It has since expanded to 11 members, including Middle Eastern nations, such as Iran and Egypt. Some Southeast Asian countries, which are strengthening economic ties with China, have also shown interest in joining the bloc. Meanwhile, US President Donald Trump has threatened BRICS members that try to use their own currency for financial transactions. He says these nations could face 100 percent tariffs if they move away from the US dollar.
.jpg%3Fwidth%3D1260%26fit%3Dcover%26gravity%3Dfaces%26dpr%3D2%26quality%3Dmedium%26source%3Dnar-cms%26format%3Dauto%26height%3D630&w=3840&q=100)
Nikkei Asia
2 hours ago
- Nikkei Asia
Japan's Mitsubishi Corp. bets big on US solar with $3.9bn expansion plan
TOKYO -- Japanese trading house Mitsubishi Corp. will boost its solar power generation capacity in the U.S. by 160% by 2028, Nikkei has learned, with the total project expenses expected to be around $3.9 billion. The company aims to localize more of its supply chain, taking advantage of favorable conditions for solar development in the U.S. Soaring global electricity demand, driven by a data center boom, has intensified the race to build out power infrastructure. Solar remains a relatively cost-effective option compared to offshore wind or nuclear, and the geographic scale of the U.S. provides abundant development opportunities.
.jpg%3Fwidth%3D1260%26fit%3Dcover%26gravity%3Dfaces%26dpr%3D2%26quality%3Dmedium%26source%3Dnar-cms%26format%3Dauto%26height%3D630&w=3840&q=100)
Nikkei Asia
3 hours ago
- Nikkei Asia
Nikkei to delete NTT Data from Nikkei 225 constituents
TOKYO -- Nikkei announced on Friday that it will remove NTT Data Group as a component of the Nikkei 225 because, as a result of the tender offer by its parent company NTT, the likelihood of the information technology service provider being delisted has become extremely high. NTT Data, whose parent intends to make it a wholly owned subsidiary, will be replaced by electronics group Rohm on July 4. NTT Data will also be deleted from the Nikkei Stock Index 300, the Nikkei 500 Stock Average and the Nikkei 225 Climate Change 1.5°C Target Index. Instead, Haseko will be added to the Nikkei Stock Index 300 on the same day, while NOF will be added to the Nikkei 500 Stock Average. The replacement in the Nikkei Climate 1.5°C Target Index will not be made until the next review in October.
