Japanese Stocks Pressured by Oil Rise
Japanese stocks weakened on Thursday (April 30), with the Nikkei 225 falling 1.06% to 59,285 and the Topix down 1.19% to 3,727. The decline continued from the previous session amid soaring oil prices that fueled concerns about an escalating conflict in the Middle East.
Sentiment worsened after reports that the US military would brief President Donald Trump on potential measures against Iran. Trump also asserted that the US would maintain a naval blockade against Iran until a nuclear deal is reached. Japan's dependence on oil imports from the Middle East heightens market sensitivity to rising energy prices and geopolitical risks.
On the policy front, the Federal Reserve kept interest rates unchanged, although the decision was marked by dissent among its four policymakers. Domestically, Japanese industrial output unexpectedly fell in March, while retail sales were stronger than expected, signaling an uneven recovery in consumption across the real sector.
Pressure was seen on large-cap stocks, led by Advantest, which fell 5%, Fujikura, which fell 4.9%, and weakening Mitsubishi UFJ (-2%), Mitsubishi Heavy (-3.8%), and Hitachi (-3.3%). The market will monitor the direction of oil prices, developments in US policy regarding Iran, and further data releases that could influence global interest rate expectations and the outlook for Japan's energy-sensitive sectors. (asd)
Source: Newsmaker.id
