Japanese Stocks Mixed, Semiconductor Pressure Held Nikkei Down Amid Iran Uncertainty
Japanese stocks were mixed on Friday, with semiconductor-related stocks leading the decline amid concerns about the Iran war and its impact on oil prices. The Topix closed up 0.2% at 3,649.69, while the Nikkei 225 fell 0.4% to 53,373.07, reflecting a selective market heading into the weekend.
Sentiment remains fragile after US President Donald Trump again pushed back the deadline for attacks on Iranian energy facilities, leaving the market uncertain about when a ceasefire will be reached. The surge in oil prices since the outbreak of the war has heightened inflationary pressures and potentially complicates the Bank of Japan's policy normalization through gradual interest rate hikes.
The main pressure came from the technology sector. Tokyo Electron and other chip stocks followed their US peers lower after the Philadelphia Semiconductor Index plunged 4.8%. Fund managers believe that large-cap and highly volatile semiconductor stocks can easily drag the index down when risk appetite weakens.
Nevertheless, the Topix rebounded in the session leading up to Monday's ex-dividend period, with more than 1,000 issuers listed. The market estimates that approximately ¥2.2 trillion in dividend reinvestment flows could enter the stock exchange, potentially triggering moderate buying ahead of the close and helping to prevent further declines.
Source: Newsmaker.id
