Tokyo stocks fall on profit-taking, fresh US-Iran clashes
Xinhua
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Tokyo stocks ended lower on Monday as investors booked profits in heavyweight technology shares, while renewed uncertainty over the Middle East conflict also weighed on the market.

The benchmark 225-issue Nikkei Stock Average dropped 1,315.00 points, or 1.92 percent, from Friday to 67,242.73.

The broader Topix index, meanwhile, finished 28.59 points, or 0.71 percent, lower at 4,007.49.

On the top-tier Prime Market, electric appliances, nonferrous metals, glass and ceramics products issues were notable decliners.

The market opened higher as technology shares tracked gains by their U.S. counterparts late last week, but slipped into negative territory as the United States and Iran exchanged a fresh round of attacks over the weekend, triggering an uptick in crude oil futures.

Analysts said the renewed regional tensions rekindled concerns that disruptions to energy and other supplies from the Middle East could drive up inflation in resource-poor Japan.

Profit-taking in heavyweight chip- and artificial intelligence-related issues also erased earlier gains, pulling the benchmark Nikkei index down more than 2 percent at one point.

Analysts said investor views on AI-related shares remained divided, with some flagging signs of overheating, while others continued to bet on further upside.