Tokyo, March 13 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average lost over 1,100 points in early trading in Tokyo on Friday, as investor sentiment was dampened by the sharp rise in crude oil prices due to the deteriorating situation in Iran. In his first statement since taking office, Iran’s new supreme leader, Mojtaba Khamenei, said Iran would keep the Strait of Hormuz, a key oil shipping route, closed, sending U.S. benchmark WTI crude prices surging again and major U.S. stock indexes plunging, market sources said. As fears of a global economic downturn grow, selling is spreading in the Tokyo stock market. At 9:03 a.m., the index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section stood at 53,286.69, down 1,166.27 points, or 2.14 pct, from Thursday’s close. END [Copyright The Jiji Press, Ltd.]
Nikkei Falls over 1,100 Points in Early Trade
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