TOKYO, Feb 24 ― Tokyo stocks closed sharply lower today as fears grew of a full-scale war in eastern Europe after Russian President Vladimir Putin announced a “military operation” in Ukraine.
The benchmark Nikkei 225 index fell 1.81 per cent or 478.79 points to 25,970.82, while the broader Topix index lost 1.25 per cent or 23.50 points to 1,857.58.
Putin's announcement “is prompting further selling” led by investors seeking short-term profits, market strategist Hirofumi Yamamoto of Toyo Securities told AFP during afternoon trade.
“But if the situation doesn't develop into a Russian occupation of the whole of Ukraine, the market probably won't get worse,” he added.
Fresh headlines flooded in during late Tokyo trade as explosions were heard in Ukraine's capital, Kyiv, and several other cities, according to AFP correspondents.
The dollar fetched ¥114.55 (RM4.20) in Asian trade, against ¥114.96 in New York yesterday.
In Tokyo trading, Uniqlo operator Fast Retailing dropped 3.82 per cent to ¥60,940, while SoftBank Group sank 6.83 per cent to ¥4,802.
Airlines also suffered sharp drops, with ANA Holdings dipping 4.74 per cent to ¥2,434 and Japan Airlines diving 6.24 per cent to ¥2,178. ― AFP
