Japan's Nikkei Falls on Geopolitical Concerns after Israel Attacks Iran
Yomiuri Shimbun file photo
Tokyo Stock Exchange
TOKYO (Reuters) — Japan's Nikkei share average fell on Friday, mirroring moves in U.S. stock futures, oil and other stock markets on news that Israel had conducted a military strike on Iran.
As of 0106 GMT, the Nikkei was down 1.5% at 37,584.47.
The broader Topix fell 1.28% to 2,7473.9.
The market was selling stocks on caution for geopolitical risks, but the news was not driving a fire sale because investors still wanted to monitor the development of the attacks, said Naoki Fujiwara, a senior fund manager at Shinkin Asset Management.
Israel has begun carrying out strikes on Iran, two U.S. officials said on Thursday, adding that there was no U.S. assistance or involvement in the operation.
Chip-making equipment maker Tokyo Electron fell 5.5% to drag the Nikkei the most. Uniqlo-brand owner Fast Retailing lost 2.1%.
Exporters fell as the yen strengthened, with Toyota Motor and Nissan Motor falling 2.75% and 1.5%, respectively.
All but three of the Tokyo Stock Exchange's 33 industry sub-indexes fell.
Energy sectors rose as oil prices jumped, with oil explorers and refiners gaining 3.6% and 2.2%, respectively.
The utility sector rose 0.7%.
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