Japanese stocks fall 1.0% as Iran conflict concerns revive

  • Japanese stocks declined as renewed Iran conflict concerns pressured markets.
  • The Nikkei Stock Average fell 1.0% to 65,646.57 at 0012 GMT.
  • Chip stocks led losses, including Tokyo Electron, Renesas Electronics and Lasertec.

Japanese stocks fell as renewed concerns over the Iran conflict and higher energy costs weighed on sentiment, with chipmakers leading declines. The Nikkei Stock Average was down 1.0% at 65,646.57 at 0012 GMT. Tokyo Electron Ltd. fell 4.1%, with a quoted decline of 4.91%, while Renesas Electronics dropped 3.0% and Lasertec lost 3.1%. The dollar traded at 159.74 yen, compared with 159.86 yen at Monday’s Tokyo stock market close. Investors were watching developments in the Middle East and crude oil prices.

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