Japan Nikkei tumbles 2.66% amid Middle East tension

Japan stock market finished session significantly lower on Friday, 19 April 2024, as selling spurred by ongoing concerns over the tensions in the middle-east with reports of Israel retaliating to last weekend's attacks.

The stock market sell-off spurred as news of the Israeli attack on Iran apparently triggered a computer algorithm that is programmed to sell stocks and buy bonds, the yen and oil, mainly through futures.

The 225-issue Nikkei Stock Average index retreated 1,011.35 points, or 2.66%, to finish at 37,068.35. The broader Topix index of all First Section issues on the Tokyo Stock Exchange tanked 51.13 points, 1.91%, to 2,626.32.

Total 30 of 33 TSE sectors closed own, with Electric Appliances sector being worst performer in percentage term, falling 3.51%, followed by Machinery, Metal Products, Precision Instruments, and Securities & Commodities Futures.

Shares of semiconductor-related companies declined in line with their U.S. counterparts overnight.

CURRENCY NEWS: The safe-haven yen strengthened to the 153 range against the dollar on Friday before weakening to 154.61 compared with 54.27-28 yen in Tokyo at Thursday.

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