Japan’s Nikkei Stock Average Rallies on Efforts to Reopen Critical Oil Shipping Lane (UPDATE 1)

Reuters

13:30 JST, April 3, 2026 (updated at 16:30 JST)

TOKYO, April 3 (Reuters) – Japan’s Nikkei share average rallied on Friday, trimming its losses for the week, following global efforts to restorePersian Gulf oil shipments interrupted by the war in Iran.

Artificial intelligence (AI)-related stocks led the Nikkei higher, with the gauge rising 1.26% to close at 53,123.49, ending the week down 0.47%. The broader Topix climbed 0.93% to 3,645.19.

Overnight, dozens of countries sought ways to restart vital energy shipments through the Strait of Hormuz after U.S.

President Donald Trump vowed more aggressive attacks on Iran.

Since commencing with a joint U.S.-Israeli aerial assault on Iran on February 28, the conflict has continued to spread chaos across the Middle East, driving prices for petroleum products sharply higher. Japan’s economy remains exposed to spikes in crude oil prices due to its reliance on imported energy.

“Growing expectations for the reopening of the Strait of Hormuz have led to a drop in crude prices in Tokyo, which appears to be supporting the Japanese stock market,” said Wataru Akiyama, a strategist at Nomura Securities.

“As uncertainty surrounding the Middle East situation has somewhat subsided, and against the backdrop of AI advancements, expectations are growing that earnings reports, which will begin in earnest around the middle of this month, will confirm strong performance,” he added.

There were 182 advancers on the Nikkei index against 41 decliners. AI industry suppliers Furukawa Electric and Fujikura jumped 10.4% and 7.5%, respectively.

Sakura Internet jumped 20.2%, hitting its daily limit, after Microsoft said it would partner with the firm on a 1.6 trillion yen ($10.02 billion) investment in AI in Japan.

The largest losers on the Nikkei were home furnishings retailer Nitori Holdings, which fell 5.1%, followed by Chugai Pharmaceutical, which lost 4.6%.

($1 = 159.6300 yen)