Tokyo stocks snap 3-day win streak on fears over Mideast tensions
TOKYO (Kyodo) -- Tokyo stocks snapped a three-day winning streak Thursday, as concerns grew over intensifying tensions in the Middle East following reports that the United States may join Israel in striking Iran.
The 225-issue Nikkei Stock Average ended down 396.81 points, or 1.02 percent, from Wednesday at 38,488.34. The broader Topix index finished 16.27 points, or 0.58 percent, lower at 2,792.08.
On the top-tier Prime Market, decliners were led by electric appliance, pharmaceutical and metal product issues.
The U.S. dollar was steady around the 145 yen line in Tokyo, as market participants were cautious amid uncertainty over the Israel-Iran conflict and U.S. tariffs, dealers said.
Stocks fell following an overnight decline of the U.S. Dow Jones index, with sentiment hurt after President Donald Trump reportedly told senior aides that he approved Iran attack plans but has put the final order on hold to see whether Tehran will abandon its nuclear program, brokers said.
"As Trump has held his position not to rule out the possibility of a direct intervention or perhaps U.S. military operations, such remarks helped dampen sentiment," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co.
The benchmark Nikkei briefly lost nearly 400 points as investors locked in gains after climbing more than 1,000 points over the past three trading days, with selling pressure particularly strong on heavyweight semiconductor-related issues.
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