Mumbai, May 11 -- Japan's Nikkei 225 fell 0.47% on Monday, retreating from record highs as rising oil prices increased concerns over inflation and economic pressure on oil-importing countries like Japan. Market sentiment weakened after US President Donald Trump rejected Iran's response to a peace proposal, keeping the Strait of Hormuz effectively closed and raising fears of supply disruptions.

Technology and industrial stocks led the losses, with shares of SoftBank Group, Advantest, and Furukawa Electric declining sharply. Nintendo also dropped after warning that both hardware and software sales are expected to weaken, while higher memory chip costs continue to pressure profit margins.

On the positive side, Sony Group surged after annou...