06.03.202600:40:00UTC+00Japanese Shares Head for Sharp Weekly Fall

The Nikkei 225 Index fell 0.5% to around 55,000, while the broader Topix Index slipped 0.4% to 3,688 on Friday, leaving both benchmarks on course for weekly losses of more than 6% as the Middle East conflict rattled global financial markets. The US-Israeli offensive against Iran has entered its seventh day, and Tehran has launched a fresh wave of missile and drone attacks across the Gulf. A sharp rise in oil prices, which has intensified inflation concerns, further pressured equities worldwide. Bank of Japan Governor Kazuo Ueda warned that the war could have a significant impact on Japan’s economy. Technology shares came under renewed selling pressure, with notable losses in Kioxia Holdings (-2.3%), Fujikura (-3%), and Lasertec (-1.7%). Defense-related stocks also retreated, including Mitsubishi Heavy Industries (-0.5%) and Kawasaki Heavy Industries (-2.2%).