The Nikkei Stock Average fell sharply on the Tokyo Stock Exchange on the 11th, closing at ¥64,011.34, its lowest level in about a month. Selling orders swelled as crude oil prices rose following worsening tensions in the Middle East and concerns over an economic slowdown intensified.
The Nikkei Stock Average fell sharply on the Tokyo Stock Exchange on the 11th, closing ¥1,259.61 below the previous day at ¥64,011.34, its lowest level in about a month. The Tokyo Stock Price Index, or TOPIX, stood at 4028.30, while trading volume was 2,372.51 million shares.
Views strengthened that disruptions to maritime transport would be prolonged as fighting between the United States and Iran intensified, pushing up crude oil futures prices. Concerns spread that this would accelerate inflation and put downward pressure on the economy, prompting selling across a broad range of stocks.
Rising long-term interest rates and the decline in US stocks the previous day also weighed on the equity market. Among technology stocks, semiconductor testing equipment maker Advantest and SoftBank Group, which invests in artificial intelligence-related companies, fell sharply, weighing on the market.