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Japanese Stocks Climb as Oil Slides on Easing Middle East Tensions

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Japanese equities edged higher on Monday's early session amid easing concerns over Middle East shipping disruptions and expectations of increased crude output from OPEC+.

The Nikkei rose 229 points or 0.3% to open at 69,973.34.

Brent crude declined around $71 per barrel as traffic through the US-secured maritime route in the Strait of Hormuz began to show signs of normalization.

Elsewhere in Asia, market participants also monitored the Korean won's inaugural session in the 24-hour forex trading system.

Meanwhile, US index futures maintained their upward momentum from Friday, when American exchanges remained closed for the Independence Day holiday.

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