Market Updates
Japan's Indexes Extended Monthly Losses, Oil Rebounded as Middle East Tensions Flared
Akira Ito
29 Jul, 2026
Tokyo
Japan's indexes extended the previous session's losses as technology stocks remained under heavy pressure amid the sustainability of the artificial intelligence trade.
The Nikkei 225 Index fell as much as 2%, while the broader TOPIX edged up a fraction, and the Japanese yen weakened to 163.45 against the U.S. dollar.
Market sentiment remained fragile in Tokyo and Asia, as global semiconductor stocks deepened losses for the third consecutive week.
Moreover, tensions in the Middle East flared after Iran resumed bombing U.S. installations following the sustained Israeli strikes in Lebanon.
Despite the repeated claims by the U.S. president, the war between the U.S. and Iran is showing no signs of ending, and the conflict between Ukraine and Russia expanded to the Caspian Sea.
Crude oil and natural gas prices are likely to rise further as the two separate conflicts involving the U.S. and Iran and the West and Russia increasingly overlap.
The Brent crude oil prices rose 3.5% to $87.46 a barrel, extending a two-week gain to over 24%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 2% to 61,112.46, and the broader TOPIX edged up 0.02% to 3,964.26.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ declined between 2% and 3%.
Murata Manufacturing plunged 12.8% to ¥6,231.0, Kioxia Holdings decreased 13.9% to ¥38,380.0, and Tokyo Electron dropped 11% to ¥50,000.0.
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