Japan's Nikkei share average fell on Tuesday, retreating from a record high in the previous session, as investors locked in profits and rising oil prices weighed on sentiment. The Nikkei ended 0.25% lower at 64,996.09. The index jumped 2.87% to close at 65,158.19 on Monday, driven by AI-optimism bets. It gained 8.95% over the past three sessions in its steepest three-day gain in more than six years. The broader Topix inched 0.1% lower to end at 3,938.46 on Tuesday. "The market has turned to the risk-on mode, but investors sold stocks to book profits from the sharp rally," said Daisuke Hashizume, senior strategist at Daiwa Securities. "Optimism over a U.S.-Iran peace deal has already been priced in, and gains in oil prices weighed on sentiment." Iran's top negotiator and its foreign minister were in Doha for talks with Qatar's prime minister on a potential deal with the U.S. to end the three-month-old war, an official briefed on the visit said on Monday, after Washington and Tehran played down hopes for an imminent breakthrough. Brent crude futures rose nearly 2% in Asian trade after the U.S. military carried out strikes in Iran, keeping markets on edge as a deal to end the war and open up the Strait of Hormuz remained elusive. In Japan, chip-related heavyweights fell, with Advantest and Tokyo Electron down 6% and 1.46%, respectively. Memory maker Kioxia slipped 4.57%, and fiber optic cable maker Fujikura lost 3.98%. Bucking the trend, SoftBank Group jumped 10.91% to become the biggest support for the Nikkei. Of all the shares traded on the Tokyo Stock Exchange's prime market, 44% rose, and 52% fell, and 3% traded flat.
Global Markets: Japan's Nikkei retreats from record high on profit-booking, strength in oil prices
Japan's Nikkei share average retreated from a record high, falling 0.25% as investors booked profits after a significant rally. Rising oil prices and the absence of an imminent U.S.-Iran peace deal also weighed on sentiment, despite SoftBank Group's substantial gain.














