Tokyo, March 06 (QNA) - Japanese stocks recorded their biggest weekly decline in nearly a year after today's close, as tensions in the Middle East severely disrupted traffic through the Strait of Hormuz, crippling oil supplies and prompting investors to abandon risk and head for safe havens.
The Nikkei stock index rose 0.6% to close at 55,620.84 points after falling 1.4% earlier in the session, but ended the week down 5.5%, its worst weekly decline since the week ending Apr. 4, 2025, when US President Donald Trump announced sweeping tariffs.
Higher oil prices tend to fuel inflation in import-dependent Japan, which could prompt the Bank of Japan to tighten monetary policy and put pressure on the yen. (QNA)