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Japan's Nikkei treads water, set to lose 11% in March as Mideast war drags on
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Japan's Nikkei treads water, set to lose 11% in March as Mideast war drags on
Mar 30, 2026 7:18 PM

TOKYO, March 31 (Reuters) - Japan's Nikkei share average

limped along on Tuesday, and was on track for a steep monthly

decline, as the ongoing Middle East conflict weighed on

sentiment.

The benchmark Nikkei 225 Index edged up 0.02%

to 51,896.91, reversing early losses, but was set to fall more

than 11% in March - its biggest monthly drop since May 2010. The

broader Topix added 0.5% to 3,559.92.

Technology shares declined overnight, dragging Wall Street

indexes broadly lower, as the war in the Middle East escalated.

Iran attacked a fully-loaded crude oil tanker in Dubai on

Monday, setting it ablaze.

Japanese shares found support after the Wall Street Journal

reported that U.S. President Donald Trump had told aides he was

willing to end the military campaign against Iran even if the

Strait of Hormuz remains largely closed.

"Semiconductor-related stocks fell sharply in the U.S.

market last night, and following that trend, selling pressure is

being seen today in Japan," said Maki Sawada, an equities

strategist at Nomura Securities.

"If the correction continues, the 50,000 point (on the

Nikkei) is likely to be viewed as a key support level."

There were 163 advancers on the index and 60 decliners. The

largest percentage gainers were Omron ( OMRNF ), up 5.5%,

followed by SHIFT, which gained 5.5%.

The largest losers were all suppliers to the tech sector,

including Fujikura ( FKURF ), down 5.8%, and Sumco ( SUMCF ),

which lost 4.7%.

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