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Japan's Nikkei Stock Average Trades Lower as Uncertainties in Middle East Conflict Weigh
Yomiuri Shimbun file photo
The Tokyo Stock Exchange
TOKYO, June 20 (Reuters) – Japan's Nikkei share average reversed early gains to trade lower on Friday as geopolitical risks surrounding the Middle East conflict weighed on sentiment.
As of 0208 GMT, the Nikkei .N225 was down 0.1% at 38,442.36, after rising as much as 0.4% earlier in the session. The index is set to rise 1.6% for the week.
The broader Topix .TOPX fell 0.29% to 2,784.02 but is on course to post a 1% weekly gain.
'With the absence of market-moving catalysts, uncertainties surrounding the Middle East tensions dragged investor sentiment,' said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
The White House said on Thursday that U.S. President Donald Trump will make a decision within the next two weeks whether to support Israel in its ongoing conflict with Iran.
'On top of the uncertainties about the conflict in the region, the outlook of the U.S. tariff plans remains unclear,' said Arisawa.
Uniqlo-brand owner Fast Retailing 9983.T fell 2.1%, dragging the Nikkei the most. Game maker Konami Group 9766.T lost 1.7%.
Department store operator Retailing 3086.T fell 2.87% to become the worst performer of the Nikkei.
Chip-testing equipment maker Advantest 6857.T jumped 4.6% to become the biggest support to the Nikkei.
Chip-making equipment maker Tokyo Electron 8035.T reversed early gains to trade 0.25% lower.
Machinery maker Amada 6113.T rose 5% to become the top performer of the Nikkei.
Of more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 37% rose and 57% fell, while 4% traded flat.
