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Japan Stocks Slide on Wall Street Rally Pause as Oil Extends Losses on Hormuz Deal

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Japanese shares opened lower on Thursday, tracking a pause in Wall Street's rally, while oil extended losses following the Hormuz deal.

The Nikkei 225 fell 404 points or 0.6% to 65,896.00.

Meanwhile, crude prices slipped further after Iran and Oman reached a preliminary agreement on a shipping route through the Strait of Hormuz.

West Texas Intermediate dropped below $75 per barrel.

Various media reports said U.S. Treasury Secretary Scott Bessent reportedly expressed confidence in Japan's fiscal trajectory, although the finance minister denied any policy pressure from Washington following last week's yen-support intervention.

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