Tokyo markets fell sharply, with the Nikkei Average closing about ¥1,260 lower than the previous day. The index closed at ¥60,411.34, weighed down by higher oil prices and expectations of rising US interest rates. Views that the US-Iran confrontation will be prolonged were also seen as a factor.
Japanese equities fell sharply, with the Nikkei Average ending trading at ¥60,411.34, down ¥1,259.61 from the previous day. Declines were broad-based, and selling spread across individual stocks.
Higher oil prices and expectations of rising US interest rates were cited as the main causes of the decline, prompting investors to adopt a stronger risk-averse stance. Some also said that views that the US-Iran confrontation will be prolonged affected market sentiment.