FX.co ★ Japan’s Nikkei Snaps 5-Day Winning Streak

The Nikkei 225 Index fell 0.73% to close at 65,878 on Monday, surrendering earlier gains and snapping a five-session winning streak. The pullback followed a sharp rise in oil prices after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, while Tehran reiterated that it would not soften its conditions for restoring traffic through the key shipping lane.

Global government bond yields also moved higher, reflecting persistent inflation risks and mounting expectations of further monetary policy tightening. Sentiment was additionally weighed by investor caution ahead of Micron Technology’s earnings later this week, as the results are expected to offer fresh signals on the outlook for demand related to artificial intelligence.

In other developments, the Chinese government has signaled it may permit certain firms to purchase Nvidia Corp.’s new RTX Pro 5500 chips. Among technology stocks, notable decliners included Kioxia (-4.4%), Ibiden Co. (-4.4%), and Lasertec (-2.2%).