09.04.202606:54:21UTC+00Japanese Shares Decline on Ceasefire Uncertainty

The Nikkei 225 Index slipped 0.73% to close at 55,895 on Thursday, while the broader Topix Index declined 0.9% to 3,741, partially reversing the previous session’s gains. The pullback came as oil prices inched higher amid lingering uncertainty over a ceasefire agreement between Iran and the US-Israeli side.

A senior Iranian official stated that elements of the ceasefire proposal had already been violated following renewed Israeli strikes on Lebanon, while Tehran continued to significantly restrict shipping through the Strait of Hormuz.

In corporate news, shares of Fast Retailing, the parent company of Uniqlo, edged down 0.46% even after the firm raised its full-year operating profit forecast, citing solid demand in the US and Europe and continued stability in its home market of Japan. Meanwhile, Seven & I Holdings tumbled 4.6% after it postponed the planned listing of its US convenience store subsidiary, citing uncertainties surrounding its US operations.