Tokyo, April 30 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average temporarily fell below 59,000 on Thursday, dragged down by surging crude oil prices amid the deepening turmoil in the Middle East. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section closed at 59,284.92, down 632.54 points, or 1.05 pct, from Tuesday. The Tokyo market was closed on Wednesday for a national holiday. The broader TOPIX index fell 44.98 points, or 1.19 pct, to 3,727.21. The U.S. benchmark West Texas Intermediate crude oil futures contract surged above 110 dollars per barrel in off-hours trading on Thursday, fueling concerns that rising crude oil prices could dampen Japanese companies’ earnings. The surge came after U.S. President Donald Trump reportedly held talks with senior officials of major energy companies to discuss the possibility of the Strait of Hormuz blockade dragging on for longer than expected. END [Copyright The Jiji Press, Ltd.]
Nikkei Briefly Drops below 59,000 as Crude Oil Prices Jump
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