On Monday, Japan's Nikkei 225 index fell by 0.47%, retreating from record highs due to rising oil prices that intensified inflation concerns for oil-importing countries like Japan. The market sentiment was further dampened after US President Donald Trump rejected Iran's response to a peace proposal, effectively keeping the Strait of Hormuz closed and raising fears of potential supply disruptions. Major losses were seen in technology and industrial stocks, with SoftBank Group, Advantest, and Furukawa Electric all declining sharply. Nintendo also faced a drop in shares after warning of expected weaknesses in both hardware and software sales, compounded by rising memory chip costs affecting profit margins. Conversely, Sony Group's stock surged after it announced plans to buy back shares worth up to ¥500 billion (approximately $3.4 billion USD) and projected an 11% rise in operating profit for the fiscal year ending March 2027, driven by growth in its music and image sensor businesses.