TOKYO: Japan’s Nikkei share average pared some of its earlier losses but still ended slightly lower on Friday, as dividend-buying only partially offset the drag from concerns over the US-Israeli war with Iran.
The Nikkei eased 0.4 percent to close at 53,373.07, after sliding as much as 2 percent earlier in the session, and snapped a three-week losing run to finish this week little changed.
The broader Topix firmed 0.2 percent to 3,649.69.
“This is a period when buying tends to come in easily from a supply-demand perspective as today is the last trading day to capture dividend rights,” said Tomoichiro Kubota, senior market analyst at Matsui Securities.
Some investors are also hoping that US President Donald Trump will ease pressure on Iran after the Nasdaq confirmed correction territory and the yield on the 10-year US Treasury rose to 4.4 percent, Kubota added.
Japan remains highly exposed to spikes in crude oil prices due to its heavy reliance on imported energy. The closure of the Strait of Hormuz weighs heavily on the countrythat gets roughly 90 percent of its oil shipments via the vital chokepoint.
Meanwhile, Trump said he will extend the deadline to April 6 for Iran to make a deal to end the war or face the destruction of its energy plants, saying talks were going “very well.”
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