Today's Stock Market: Third Straight Decline Likely as Middle East Tensions Drive Oil Prices Higher, with the Nikkei 225 Potentially Falling Toward ¥64,500

The story

Japan's stock market fell for a third straight day today, with the Nikkei 225 trading broadly around ¥64,500 throughout the day. Deteriorating investor sentiment and continued external risks supported selling pressure, while the trading range remained limited.

The rise in oil prices accompanying the deterioration in the Middle East situation was cited as a factor behind the market's decline. Higher oil prices were seen as partly curbing momentum in resource-related stocks and prompting investors to hold back on buying across the market.

At a glance

Nikkei AverageFell toward ¥64,500

Number of days3-day decline

CauseOil prices rose as the situation in the Middle East deteriorated

ImpactResource-related stocks were seen losing momentum

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