Market Updates
Persian Gulf Tensions Keep Japan’s Stocks Under Pressure
Akira Ito
23 Apr, 2026
Tokyo
Japan's benchmark indexes dropped as investors digested rising possibilities of a prolonged conflict in the Persian Gulf.
The Nikkei 225 Stock Average fell about 0.9%, and the broader Topix decreased 0.8% amid lingering uncertainty over energy product shipments from the Persian Gulf.
Iran's multiple strikes to oil producing facilities is expected to keep production curtailed for several months.
Crude oil and natural productions in Saudi Arabia, Kuwait, Bahrain, Qatar, and the UAE is likely to remain depressed for as long as two years.
In addition, shipments through the Persian Gulf region are likely to remain disrupted at least for several months as the U.S. and Iran talks failed to produce an outcome.
The Strait of Hormuz remains effectively closed under dual-blockade of shipments from Gulf nations and Iran.
The longer the conflict in the Persian Gulf persists, energy prices are likely to remain closer to $100 a barrel in the international markets, impacting the economy of Japan and other imported-energy dependent nations.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.9% to 59,063.94, and the broader Topix fell 0.8% to 3,715.0.
AI-linked and semiconductor equipment makers closed down following the weakness in tech stocks.
Tokyo Electron, SoftBank Group, Lasertec, and Disco Corp. fell between 2% and 5%.
Nippon Yusen, Mitsui OSK Lines, and Kawasaki Kisen Kaisha declined between 1% and 3%.
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