Japanese Shares Decline as Oil Prices Surge

2026-04-30 00:45 By Jam Kaimo Samonte 1 min. read

The Nikkei 225 Index dropped 1% to around 59,300, while the broader Topix Index fell 1.6% to 3,710 in post-holiday trading on Thursday, extending the previous session’s losses as oil prices surged again amid the prolonged US-Iran conflict and continued blockades in the Strait of Hormuz.

Prospects for renewed peace negotiations weakened after President Donald Trump stated that the US would maintain its naval blockade on Iran until a nuclear agreement is reached.

Japan’s heavy reliance on Middle Eastern oil imports added to market pressure.

Meanwhile, the US Federal Reserve kept its policy rate unchanged as widely expected, although four officials dissented from the decision.

Domestically, data showed Japan’s industrial output unexpectedly contracted in March, while retail sales exceeded forecasts.

Notable declines were recorded among major index constituents, including SoftBank Group (-3.1%), Fujikura (-4.1%), Mitsubishi UFJ (-2.5%), Mitsubishi Heavy (-5%), and Hitachi (-2.7%).



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Japanese Shares Decline as Oil Prices Surge
The Nikkei 225 Index dropped 1% to around 59,300, while the broader Topix Index fell 1.6% to 3,710 in post-holiday trading on Thursday, extending the previous session’s losses as oil prices surged again amid the prolonged US-Iran conflict and continued blockades in the Strait of Hormuz. Prospects for renewed peace negotiations weakened after President Donald Trump stated that the US would maintain its naval blockade on Iran until a nuclear agreement is reached. Japan’s heavy reliance on Middle Eastern oil imports added to market pressure. Meanwhile, the US Federal Reserve kept its policy rate unchanged as widely expected, although four officials dissented from the decision. Domestically, data showed Japan’s industrial output unexpectedly contracted in March, while retail sales exceeded forecasts. Notable declines were recorded among major index constituents, including SoftBank Group (-3.1%), Fujikura (-4.1%), Mitsubishi UFJ (-2.5%), Mitsubishi Heavy (-5%), and Hitachi (-2.7%).
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