TOKYO, March 31 (Reuters) - Japan's Nikkei share average
fell for the fourth straight day on Tuesday, capping its worst
month since the 2008 global financial crisis as the widening
Middle East war weighed on sentiment.
The benchmark Nikkei 225 Index fell 1.6% to close at
51,063.72, bringing its cumulative loss in March to 13.2%, the
most since October 2008. The broader Topix slid 1.26% to
3,497.86.
U.S. 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 briefly 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 88 advancers on the Nikkei against 135 decliners.
The largest losers were all suppliers to the tech sector,
including Fujikura ( FKURF ), down 9.2%, Furukawa Electric ( FUWAF )
, 7% lower, and Sumitomo Electric, which lost
6.9%.
The largest gainers were SHIFT, up 3.4%, followed
by Teijin Ltd ( TINLF ), which advanced 3.4%.