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Japan's Nikkei rallies on efforts to reopen critical oil shipping lane
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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)

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