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Japanese Shares Rise Marginally as Middle East Conflict Widens; Oil Breaches $100 Mark

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Japanese stocks rose marginally on Thursday even as the widening Middle East conflict and fresh attacks on energy supplies stoked inflation fears, keeping investors on edge ahead of US inflation data.

The benchmark Nikkei 225 closed up 128.17 points, or 0.20%, at 65,270.95.

Oil prices extended gains, breaching the $100-a-barrel mark to $101.11 per barrel as the latest escalation in the US-Iran conflict heightened concerns over oil supply disruptions. The US President Donald Trump has predicted that the Iran war will not end until after November's midterm elections and that oil prices will remain elevated.

On the corporate side, SoftBank (TYO:9434) said it will expand its Starlink Direct service overseas from Sept. 28, allowing compatible smartphones to connect directly with Starlink satellites at overseas locations, according to a Thursday release.

Also, Sekisui Chemical (TYO:4204) will increase the capital of wholly owned subsidiary Sekisui Heim by 10 billion yen, according to a Tokyo bourse filing on Thursday.

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