Japan's Nikkei trades sideways as inflation, Iran concerns weigh
EWJ•Biggest movers in the Nikkei 225
Market breadth was positive, with 156 advancers on the Nikkei 225 against 67 decliners and two unchanged.
The largest gainers in the index were Sumco 3436.T, up 6.55%, followed by Tokyo Disneyland operator Oriental Land 4661.T, 5.26% higher, and advertising giant Dentsu Group 4324.T, which gained 4.56%.
The largest losers were Yaskawa Electric 6506.T, down 9.91%, followed by Fujikura 5803.T, 5.25% lower, and Panasonic 6752.T, which lost 4.16%.
Nikkei and Topix struggle for direction
TOKYO, July 14 (Reuters) - Japan's Nikkei share average struggled for direction on Tuesday as bargain buying was offset by renewed inflation and geopolitical concerns.
The benchmark Nikkei 225 .N225 swayed between gains and losses and was last up 0.10% at 67,311.44. The broader Topix .TOPX gained 0.41% to 4,023.89.
Middle East tensions and oil prices weigh on risk appetite
U.S. stocks fell overnight after Iran said it had again closed the Strait of Hormuz and U.S. President Donald Trump announced a reinstated blockade on Iranian ports, driving oil prices higher and weighing on risk-sensitive assets.
Pension fund expectations and central bank policy remain in focus
Japan could consider tweaking its state pension fund's allocation strategy if domestic assets increase in appeal, Finance Minister Satsuki Katayama said, rekindling expectations the massive fund may boost purchases of bonds and stocks.
"We are seeing some buying on the dip," said Maki Sawada, an equities strategist at Nomura Securities. "Concerns over the situation in the Middle East appear to have intensified."
