Tokyo stocks end lower on Ukraine war, Covid fears

Tokyo stocks end lower on Ukraine war, Covid fears

Tokyo stocks end lower on Ukraine war, Covid fears

Tokyo stocks end lower on Ukraine war, Covid fears

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Tokyo shares closed lower Monday on the battle in Ukraine and issue over surging Covid-19 instances in China.

The benchmark Nikkei 225 index become down 1.08 percent, or 293.48 points, to quit at 26,799.71, at the same time as the broader Topix index slipped 0.86 percentage, or 16.23 points, to 1,880.08.

The greenback fetched 126.59 yen towards 126.46 yen overdue Friday in Asia.

“With investors spooked by growing tensions linked to the Ukraine situation and surging Covid cases in China, the Nikkei started trading sharply lower,” Okasan Online Securities said.

The promote-off then spread, mainly amongst growth stocks, and at one factor the marketplace hit lows that Toshikazu Horiuchi, a broker at IwaiCosmo Securities, referred to as “greater than anticipated”.

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Rising US yields and hiking oil costs additionally contributed to the falls, Horiuchi instructed AFP.

Many Japanese corporations announce their profits next week, a issue which added to buyers’ reservations over shopping for stocks, he said.

SoftBank Group gave up 0.68 percentage to five,653 yen, Sony Group lost 0.66 percent to 11,140  yen and Toyota inched down 0.23 percent to 2,155 yen.

Uniqlo operator Fast Retailing declined 1.24 percentage to 64,000 yen and Toshiba slipped 0.84 percent to 5,056 yen

Drugmaker Shionogi turned into down 0.35 percentage at 6,786 yen after a report stated  the Japanese health ministry may additionally observe an emergency approval rule for its Covid tablet.

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