3 days ago
Japan's Nikkei falls on geopolitical worries as Israel attacks Iran
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Japan's Nikkei share average fell on Friday as investors sold riskier assets after Israel launched widescale strikes against Iran, stoking worries about geopolitical Nikkei fell 0.89% to close at 37,834.25, mirroring moves in U.S. stock futures, but posted a 1.14% gain for the broader Topix fell 0.95% to 2,756.47 and gained 0.5% for the week."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 launched strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders, and that this was the start of a prolonged operation to prevent Tehran from building an atomic equipment maker Tokyo Electron fell 4.8%, dragging the Nikkei the most. Uniqlo-brand owner Fast Retailing lost 1.61%.Exporters fell as the yen strengthened, with Toyota Motor and Nissan Motor falling 2.35% and 1.26%, sectors rose as oil prices jumped. Oil explorers jumped 2.77% to become the top performer among the Tokyo Stock Exchange's 33 industry refiners gained 1.61% and the utility sector gained 1.17%.Defense-related shares also rose, with Mitsubishi Heavy Industries and IHI rising 2%, more than 1,600 stocks trading on the TSE's prime market, 17% rose and 79% fell, with 2% trading flat.
