JPMorgan Securities Japan has recommended purchasing Japanese stocks during market declines, noting that the Japanese equity market has fallen to oversold levels due to the conflict in Iran. Strategists including Rie Nishihara stated in a report that a 10%–20% rise in WTI crude oil prices would only reduce corporate earnings by 1%–2%, "given the increasing ability of companies to pass on costs to product prices since 2023." Considering the limited impact of higher oil prices on earnings and valuations, the firm believes Japanese stocks are approaching oversold territory. The Nikkei 225 index is expected to recover "relatively quickly" to the range of 54,000–56,000 points.