Nikkei Falls 2.3%: Japan Plunges
Japanese stocks fell sharply at the start of the week, dragged down by market concerns about stability in the Middle East and a surge in oil prices following the US and Israeli attacks on Iran. Risk-off sentiment led investors to reduce positions in stocks sensitive to global uncertainty.
The heaviest pressure came from the financial and airline sectors, which were directly affected as geopolitical risks rose and energy costs were expected to rise. Nomura Holdings plunged 7.3%, while Japan Airlines fell 6.2%.
Energy stocks, on the other hand, were the exception. Inpex surged 12% as stronger oil prices offered better earnings prospects for oil and gas exploration companies.
In the foreign exchange market, USD/JPY strengthened to 156.43 from 155.90 at the Tokyo Stock Exchange close on Friday, indicating increased demand for the dollar as investors sought safer assets. At the same time, the Nikkei fell 2.3% to 57,478.55, as the market continued to monitor developments in the Middle East and oil prices. (asd)
Source: Newsmaker.id
