Nikkei closes below 31,000 points due to Middle East concerns

Japan’s Nikkei index closed below 31,000 points on Monday as investors worried about the development of the situation in the Middle East.

According to Reuters, the Nikkei index fell 0.83% to close at 30,999.55 points. It had earlier fallen to its lowest level in two weeks at 30,974.26 points before a quick rebound in the last two minutes of the session.

Among the 225 stocks listed on the Nikkei index, the shares of 175 companies declined and 48 shares rose, while the shares of two companies saw no significant change.

The index’s volatility measure rose to 23.87, a level not seen since October 28. While the broader Topix index fell 0.75 percent at the close

Maki Sawada, a strategist at Nomura Securities, said, “Concerns related to the possibility of escalating tensions in the Middle East will continue to represent a burden on the Japanese stock market.”