financetom
World
financetom
/
World
/
Japan's Nikkei rallies on efforts to reopen critical oil shipping lane
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Nikkei rallies on efforts to reopen critical oil shipping lane
Apr 2, 2026 7:27 PM

TOKYO, April 3 (Reuters) - Japan's Nikkei share average

rallied on Friday, trimming its losses for the week, following

global efforts to restore Gulf oil shipments interrupted by the

war in Iran.

Artificial intelligence (AI)-related stocks led the Nikkei

higher, with the gauge rising 1.31% to 53,147.35 in

early trade, poised for a 0.4% retreat on the week. The broader

Topix climbed 1.12% to 3,652.13.

Dozens of countries sought ways overnight to restart vital

energy shipments through the Strait of Hormuz after U.S.

President Donald Trump vowed more aggressive attacks on Iran.

Since it began with a joint U.S.-Israeli aerial assault on

Iran on February 28, the conflict continues to spread chaos

across the region, driving prices for petroleum products sharply

higher. Japan's economy remains exposed to spikes in crude oil

prices due to its reliance on imported energy.

"Growing expectations for the reopening of the Strait of

Hormuz have led to a drop in crude prices in Tokyo, which

appears to be supporting the Japanese stock market," said Wataru

Akiyama, a strategist at Nomura Securities.

"As uncertainty surrounding the Middle East situation has

somewhat subsided, and against the backdrop of AI advancements,

expectations are growing that earnings reports, which will begin

in earnest around the middle of this month, will confirm strong

performance," he added.

There were 201 advancers on the Nikkei index against 24

decliners. AI industry bellwethers Advantest ( ADTTF ) and Tokyo

Electron ( TOELF ) rose 1.9% and 1.5%, respectively.

The largest losers on the Nikkei were Chugai Pharmaceutical ( CHGCF )

, down 4.1%, followed by home furnishings maker Nitori ( NCLTF )

, which lost 3.5%.

(Reporting by Rocky Swift in Tokyo; Editing by Subhranshu Sahu)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan's Nikkei reverses early gains ahead of BOJ's policy decision
Japan's Nikkei reverses early gains ahead of BOJ's policy decision
Jun 12, 2024
TOKYO, June 13 (Reuters) - Japan's Nikkei share average surrendered early gains to trade lower on Thursday ahead of the Bank of Japan's policy decision due Friday. The Nikkei was down 0.12% to 38,831.36 by the midday break, after rising nearly 1% to cross the 39,000 level earlier in the session as chip-related stocks tracked their U.S. peers. The broader...
CANADA-CRUDE-Heavy oil discount widens further
CANADA-CRUDE-Heavy oil discount widens further
Jun 12, 2024
June 12 (Reuters) - The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Wednesday: * WCS for July delivery in Hardisty, Alberta, settled at $13.50 a barrel below WTI, according to brokerage CalRock, having settled at $13.25 a barrel under the benchmark on Tuesday. * The widening comes as...
MORNING BID EUROPE-Data is king, Fed its servant
MORNING BID EUROPE-Data is king, Fed its servant
Jun 12, 2024
A look at the day ahead in European and global markets from Kevin Buckland The verdict from investors appears to be that benign U.S. inflation trumps the Fed's rate outlook, clearing the way for gains in Asian equities, and potentially in Europe too. The initial shock at projections for just one U.S. rate cut this year despite a very tame...
Morning Bid: Data is king, Fed its servant
Morning Bid: Data is king, Fed its servant
Jun 12, 2024
A look at the day ahead in European and global markets from Kevin Buckland The verdict from investors appears to be that benign U.S. inflation trumps the Fed's rate outlook, clearing the way for gains in Asian equities, and potentially in Europe too. The initial shock at projections for just one U.S. rate cut this year despite a very tame...
Copyright 2023-2026 - www.financetom.com All Rights Reserved