TOKYO, Feb 22 ― Tokyo stocks ended lower today with investors spooked by escalating tensions in eastern Europe after Russian President Vladimir Putin recognised rebel-held areas in Ukraine.
The benchmark Nikkei 225 index fell 1.71 per cent, or 461.26 points, to 26,449.61, while the broader Topix index slumped 1.55 per cent, or 29.60 points, to 1,881.08.
The dollar fetched ¥114.74 (RM4.18), against ¥114.82 in London late yesterday.
In a move that could set off a potentially catastrophic war with Kyiv, Putin ordered Russia's military to act as peacekeepers in two breakaway regions of Ukraine, just hours after he recognised them as independent.
Headlines on the Ukraine crisis continued to dominate the day's news, with Western powers swiftly condemning Russia's action.
In Japan, too, Prime Minister Fumio Kishida warned of a “strong response” including sanctions, in the event of a Russian invasion.
Soaring tensions led to a risk-averse sentiment spreading among investors, Okasan Online Securities said in a note.
“With the market disheartened by geopolitical risks linked to rising tensions in Ukraine, the Nikkei started trading sharply lower, prompting sell-offs among a wide range of stocks,” the brokerage said.
But once the sell-off subsided, a “wait-and-see mood prevailed” ahead of a public holiday in Japan tomorrow, it added.
US markets were closed for a holiday yesterday.
Among major shares in Tokyo, Nissan dived 6.01 per cent to ¥562.1, Uniqlo operator Fast Retailing was down 1.63 per cent at ¥63,360, and airline ANA Holdings fell 2.20 per cent to ¥2,555.
Toyota lost 2.27 per cent to ¥2,123.5, Sony Group slid 2.64 per cent to ¥11,575 and SoftBank Group inched down 0.11 per cent to ¥5,154. ― AFP
