Tokyo stocks fell sharply on the 11th, with the Nikkei 225 closing at ¥60,011.34, its lowest level in about a month. Oil prices rose as tensions in the Middle East worsened, prompting selling amid growing concerns about an economic slowdown.
The Nikkei 225 fell sharply in Tokyo trading on the 11th, closing at ¥60,011.34, down ¥1,259.61 from the previous day. The decline temporarily exceeded ¥2,000, bringing the index to its lowest level in about a month. TOPIX fell 26.28 points to 4,028.30, while trading volume was 2.37251 billion shares.
The sell-off was driven by a rise in US crude oil futures amid worsening tensions in the Middle East. Higher oil prices heightened inflationary pressure, prompting broader concerns about an economic slowdown. Rising long-term interest rates and the previous day's decline in US stocks also weighed on the market as a whole.
Some high-tech stocks with a significant influence on the broader market fell sharply, including Advantest, a major semiconductor testing equipment maker, and SoftBank Group, which invests in AI-related companies.
The decline was attributed not only to higher oil prices but also to renewed concerns about an economic slowdown, resulting in widespread selling across stocks.