Tokyo, April 13 (QNA) – Japan’s benchmark Nikkei index closed lower on Monday, retreating from recent gains as heightened geopolitical tensions weighed on investor sentiment following the collapse of US-Iran talks over the weekend.
The Nikkei 225 fell 0.7% to 56,502.77 points, after posting its strongest weekly performance in more than a year last week. The broader Topix index declined 0.5% to 3,723.01 points.
Market breadth was negative, with 158 stocks declining against 63 advancers on the Nikkei.
Among decliners, shares of TOTO Ltd. dropped 7.2%, after falling as much as 8.8% during the session, marking the biggest loss on the index. Ibiden Co., Ltd. fell 5.1%, while Tokyo Electron Ltd. declined 3.6%.
On the upside, Dentsu Group Inc. surged as much as 10.6%, making it the top percentage gainer on the main index. Yaskawa Electric Corporation rose 7.1%.
Energy shares also advanced, with INPEX Corporation gaining 3.1%, supported by higher crude prices.
Investor sentiment was dampened after diplomatic efforts between Washington and Tehran faltered, alongside reports of potential US naval measures targeting Iranian ports, raising concerns over global trade and energy flows. (QNA)