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Japanese Shares Fall Marginally Ahead of Tech Earnings, Iran Sanctions; Oil Falls

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Japanese stocks fell marginally to close in the red on Monday on investor concerns over artificial intelligence investments ahead of US Big Tech Nvidia's results on Wednesday and anticipated trade sanctions on Iran.

The benchmark Nikkei 225 closed down 488.27 points, or 0.74%, at 65,528.09.

Oil prices eased as investors awaited the details of US trade sanctions on Iran and the impact of an intensified trade strike on global supply chains ahead of the Federal Reserve's annual gathering.

On the corporate side, Kakaku.com (TYO:2371) said it received notice from investment funds Bain Capital and LY Corp. that Blitz Cayman plans to wait for the expiry of a competing tender offer before proceeding with its own offer, according to a Tokyo Stock Exchange filing on Monday.

Also, Kubota's (TYO:6326) majority-owned joint venture, Escorts Kubota (NSE:ESCORTS, BOM:500495) in India, broke ground on a new $200 million manufacturing unit in Uttar Pradesh, India, and plans to expand its manufacturing capacity and exports to Europe, Africa, and North America.

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