Japan's Nikkei retreats from 4-month high as US-Iran tensions weigh

Reuters
06-19
Japan's Nikkei retreats from 4-month high as US-Iran tensions weigh

Adds closing levels

By Rocky Swift

TOKYO, June 19 (Reuters) - Japan's Nikkei share average retreated from a four-month high on Thursday, as escalating tensions between the United States and Iran dampened demand for higher-yielding assets.

The Nikkei 225 Index .N225 closed 1% lower, snapping a three-day winning streak that had pushed the gauge to the highest since February 20. The broader Topix .TOPX lost 0.6%.

The Israel-Iran conflict entered its seventh day, and U.S. President Donald Trump was ambiguous about whether Washington would join in bombardment of Iran's nuclear sites.

"Heightened tensions in the Middle East continue to cool investor sentiment, with the downside appearing to widen," said Nomura strategist Fumika Shimizu.

There were 62 advancers in the Nikkei index against 159 decliners. The largest percentage losses in the index were Trend Micro 4704.T, down 8.4%, followed by Screen Holdings 7735.T which skidded 4%.

Nippon Steel 5401.T was among the top gainers, rising 2.3% after completing its long-awaited $14.9 billion acquisition of U.S. Steel X.N.

(Reporting by Rocky Swift in Tokyo; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)

((rocky.swift@thomsonreuters.com;))

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