TOKYO, April 7 (Reuters) - Japan's Nikkei share average
eased in choppy trade on Tuesday, as investors watched for signs
of progress toward a ceasefire in the U.S.-Israeli war with
Iran, even as U.S. President Donald Trump ramped up threats to
strike Iranian infrastructure.
The Nikkei swayed between gains and losses, last
down 0.4% to 53,202.56, after rising as much as 0.9% earlier in
the session. The broader Topix slid 0.1% to 3,642.53
after climbing as much as 1.1%.
Iran has rejected Washington's proposal for an immediate
ceasefire, instead calling for a permanent end to the war,
according to the Islamic Republic News Agency (IRNA).
The rejection followed increasingly bellicose ultimatums
from Trump, who vowed to rain "hell" on Iran if a deal is not
reached by Tuesday midnight to reopen the crucial Strait of
Hormuz to oil tanker traffic.
"President Trump appears to be increasingly speaking in a
reactive or ad hoc manner, and his messaging has become less
consistent. As a result, markets no longer seem to be parsing
every remark with the same degree of sensitivity they once did,"
said Hitoshi Asaoka, chief strategist at Asset Management One.
"While he continues to reference specific timelines or
deadlines, investors appear to be placing less credibility on
those dates than they did previously."
There were 113 advancers on the Nikkei index and 109
decliners.
Among individual stocks, truckmaker Archion lost
7.3% to be the biggest laggard on the Nikkei index, followed by
Disco , a precision cutting tools supplier for
semiconductors, which declined 5.8%.
Meanwhile, software testing company SHIFT was the
best percentage gainer with a 4.1% rise. TOTO ( TOTDF ), a
bathroom fixtures and sanitary ware manufacturer, added 3%.