Japanese stocks extend losses as oil surge fuels rate concerns

Japanese stocks fell for a second straight session on Thursday, with the Nikkei 225 down 1.42% at 69,042 and the broader Topix lower 1.51% at 4,091.

The decline came as rising oil prices, driven by renewed tensions between the US and Iran, increased concerns about inflation. Investors also remained cautious after the latest Fed minutes pointed to a hawkish approach and the possibility of further rate hikes.

In Japan, Bank of Japan policymaker Ayano Sato said she supported a gradual approach to raising interest rates, suggesting that further policy tightening could come in stages.

Technology and banking stocks were among the biggest losers. Taiyo Yuden fell 4.4%, SoftBank Group dropped 4.3%, and Mitsubishi UFJ declined 3.3%.

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