TOKYO (dpa-AFX) - The Japanese stock market has tracked to the upside in seven consecutive sessions, climbing more than 6,950 points or 10.9 percent in that span. Now at a fresh record closing high, the Nikkei 225 sits just above the 71,250-point plateau although investors figure to lock in gains on Monday.
The global forecast for the Asian markets is week after Iran closed down the Strait of Hormuz again over the weekend. The European markets were soft and the U.S. bourses were off and the Asian markets also figure to open in the red.
The Nikkei finished slightly higher on Friday as gains from the broader market were limited by weakness from the financial shares, technology stocks and automobile producers.
For the day, the index gained 196.57 points or 0.28 percent to finish at 71,250.06 after trading between 70,517.98 and 71,952.99.
Among the actives, Nissan Motor plunged 4.43 percent, while Mazda Motor tumbled 2.74 percent, Toyota Motor shed 0.61 percent, Honda Motor eased 0.11 percent, Softbank Group skidded 1.08 percent, Mitsubishi UFJ Financial tanked 2.85 percent, Mizuho Financial cratered 4.42 percent, Sumitomo Mitsui Financial stumbled 3.66 percent, Mitsubishi Electric dipped 0.08 percent, Sony Group plummeted 3.38 percent, Panasonic Holdings rallied 2.65 percent and Hitachi sank 0.75 percent.
The markets on Wall Street were closed on Friday for the Juneteenth holiday, but the European bourses ended mostly under water.
The UK's FTSE 100 ended down 0.35 percent, while Germany's DAX drifted down 0.16 percent and France's CAC 40 lost 0.55percent and Switzerland's SMI edged up 0.06 percent.
The weakness that emerged was due to uncertainty about U.S. and Iran securing a lasting peace truce in the Middle East following the abrupt cancellation of talks between the two nations in Switzerland.
The cancellation happened following exchange of fresh attacks between Israel and Hezbollah, and Iran then accused the U.S. of breaking the agreement - since one of the main conditions was for Israel to also cease hostilities.
Crude oil prices tumbled last week on reports that the Strait of Hormuz was re-opened, falling more than 10 percent from the previous week's close to below $80. But Iran closed the strait again over the weekend, likely prompting a rebound in crude prices this week.
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