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Japan's Nikkei wraps up worst month since 2008 as Mideast crisis drags on
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Japan's Nikkei wraps up worst month since 2008 as Mideast crisis drags on
Mar 31, 2026 12:22 AM

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%.

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