FX.co ★ Japanese Shares Slip on US-Iran Uncertainty

The Nikkei 225 Index slipped 0.3% to below 53,600 on Thursday, while the broader Topix Index lost 0.5% to 3,630, halting a two-day rebound amid mounting uncertainty over diplomatic efforts to resolve the Middle East conflict. The US stressed that peace talks remain ongoing, but Iran signaled it has no intention of engaging in direct negotiations with Washington. Tehran indicated it would reject a US-backed ceasefire proposal and instead put forward a five-point plan that would grant it control over the Strait of Hormuz. At the same time, Japan received two oil tankers from the Middle East this week that avoided the strategic waterway, helping to ease some supply concerns. On the corporate front, notable decliners included Kioxia Holdings (-5.6%), Advantest (-2.3%), Tokio Marine (-1.6%), JX Metals Advanced (-3%), and Sumitomo Electric (-3.1%).