TOKYO: Japan’s Nikkei share average closed in the red on Monday for a third consecutive day, as the Middle East crisis raised concerns about longer-term economic damage from higher energy prices and a weaker yen.
The benchmark Nikkei 225 Index edged 0.1 percent lower to close at 53,751.15, after earlier falling as much as 1.3 percent. The broader Topix slid 0.5 percent to 3,610.73.
The Nikkei has lost almost 9 percent since the start of US and Israeli air strikes on Iran more than two weeks ago, as the conflict spread into neighbouring countries and paralysed shipment of petroleum through the Strait of Hormuz.
Shares briefly turned up after US President Donald Trump said he is urging other countries to help safeguard shipping routes.
Japan does not currently plan to dispatch naval vessels to escort ships in the Middle East, Prime Minister Sanae Takaichi said. Meanwhile, Finance Minister Satsuki Katayama said the government is prepared to take decisive steps in financial markets, as the yen sank close to the psychologically important 160-per-dollar line.
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