Abu dhabi: Japan's Nikkei share average slipped on Friday, putting it on course for its worst week in more than a month, as oil prices rose and fanned inflation fears. The Nikkei eased 0.3 percent as of the midday recess in Tokyo, setting up a weekly loss of about 4 percent -- the sharpest since the week ended 17th July. The broader Topix declined 0.1 percent and was on track for a 3.4 percent weekly slide.

According to Emirates News Agency, the decline in the Nikkei is attributed to the rise in oil prices, which has led to increased concerns about inflation. This marks a notable downturn for the Nikkei, which has been experiencing fluctuations in recent weeks. The ongoing volatility in the global markets has had a pronounced impact on Japanese shares, with investors closely monitoring the situation.

The broader Topix also faced declines, reflecting a broader trend in the Japanese stock market this week. The 0.1 percent fall in Topix contributed to an anticipated weekly loss of 3.4 percent. Market analysts have pointed out that the rising oil prices are a significant factor influencing investor sentiment, leading to caution in the market.