Japanese Stocks Weaken, US-Iran Talks Failed?
Japanese stocks weakened in morning trading after plans for a new round of US-Iran peace talks reportedly failed, despite the US President's call for an indefinite ceasefire until negotiations are completed. The Topix index fell 0.8% to 3,741.06 (9:20 a.m. Tokyo time), while the Nikkei 225 fell 0.1% to 59,270.89.
Selling pressure spread across the market, with Toyota Motor the biggest contributor to the Topix's decline, falling 2.2%. Of the 1,651 index members, 1,206 declined, 367 rose, and 78 were unchanged. AI-related stocks, including cable manufacturers, also declined, and macro-sensitive sectors such as automotive and trading houses also weakened.
Market participants are also monitoring domestic policy factors, including lower expectations for a Bank of Japan interest rate hike in April, which could weigh on banking stocks. Daiwa Asset Management Chief Strategist Kazunori Tatebe assessed that even if the fighting doesn't escalate, a longer agreement process could delay the stabilization of oil prices and the reopening of the Strait of Hormuz, ultimately negatively impacting the stock market. (Asd)
Source: Newsmaker.id
