Japan Stocks Slide After Iran Attacks Base Hosting U.S. Troops

Wednesday, 8 January 2020 10:08 WIB

Saham JepangIndeksTopixIndeksNikkei 225


Japanese stocks headed for their worst drop since August after Iran attacked U.S. targets in Iraq.

Electronics and chemicals makers weighed on the Topix index the most, as every industry group fell except for energy explorers. The benchmark gauge pared some of its morning loss while the yen, which had strengthened to 107.65 per dollar earlier, weakened back through 108. Oil surged above $65 a barrel.

The White House said that there were no plans for President Donald Trump to address the nation after an Iranian attack on two U.S. targets in Iraq. It wasn’t immediately clear whether there were casualties or major damage from the attacks. Foreign Minister Mohammad Javad Zarif said Iran had concluded its “proportionate measures” after the U.S. killing of General Qassem Soleimani and that the nation isn’t seeking war.

Investors may eventually become accustomed to the uncertainties, said Toshiya Matsunami, chief analyst at Nissay Asset Management, noting that with time, markets “got used to the risks imposed by U.S.-China trade tensions.”

Topix index -1.8% at 1,693.76 as of midday break in Tokyo. Nikkei 225 index -2% at 23,114.64.

Source : Bloomberg


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