The Nikkei 225 Index fell 1.1% to around 54,400, while the broader Topix Index dropped 1.3% to 3,650 on Thursday, snapping a two-day rebound as oil prices continued their ascent, reigniting concerns about inflation. Oil surged for a second day as the Iran war showed no signs of easing, even after the IEA approved its largest-ever emergency release of 400 million barrels of crude. That includes 172 million barrels from the US, while Japan will release 80 million barrels of oil from its reserves. Japan remains highly vulnerable to oil supply shocks due to its heavy reliance on Middle Eastern imports. Significant losses were seen among index heavyweights, including Advantest (-2.6%), SoftBank Group (-3.3%), JX Advanced Metals (-1.4%), Mitsubishi UFJ (-1.3%), and Tokyo Electron (-1.4%).
