TOKYO: Japanese shares ended lower on Wednesday as renewed US attacks on Iran pushed oil prices higher, stoking fears of an economic slowdown, while rising bond yields pressured growth stocks.
The Nikkei fell 2.85 percent to close at 64,325.64. The broader Topix lost 2.4 percent to 4,081.6, snapping a nine-session rally.
Oil prices rose on Wednesday, extending the previous session’s surge, as concerns over supply disruption intensified after the US and Iran exchanged strikes overnight, dimming hopes for a quick easing of tensions in the Middle East.
Technology investor SoftBank Group fell 6.42 percent, and chip-related Tokyo Electron and Advantest lost 3.4 percent and 2.52 percent, respectively.
Rising global bond yields weighed on growth shares, such as chip-related stocks, said Hashizume.