TOKYO – Tokyo stocks opened lower Thursday as investors’ worries grew over the intensifying crisis in Ukraine.
The benchmark Nikkei 225 index dropped 0.88 percent or 242.42 points to 27,291.18, while the broader Topix index fell 0.47 percent or 9.19 points at 1,927.37.
The dollar fetched 114.37 yen (RM4.15), off from 114.42 yen (RM4.15) yesterday in New York.
Today’s weak start came as market players locked in gains after a four-day winning streak fuelled by the strength of US shares, Okasan Online Securities said in a note.
“On top of that, uncertainty surrounding the Ukraine situation is expected to weigh on the market,” the brokerage added.
Investors are closely watching tensions around Ukraine as the United States deployed troops to bolster NATO forces in eastern Europe, stoking fears of a Russian invasion.
Also weighing on market sentiment was a sharp selloff of shares in Facebook operator Meta Platforms in after-hours trading on Wall Street.
Meta issued weaker-than-expected corporate results, “a negative factor for investors’ sentiment,” Okasan said.
A wide range of shares suffered falls in Tokyo. Nintendo, which will release its earnings later on Thursday, fell 2.13 percent to 56,510 yen (RM2,049.82).
Sony Group, which upgraded its annual forecasts on Wednesday, dropped 5.63 percent to 12,645 yen (RM458.68).
Market heavyweight Fast Retailing, which operates the Uniqlo fast-fashion brand, dropped 3.53 percent to 62,940 yen (RM2,283.06).
Tech investor SoftBank Group eased 0.27 percent to 5,187 yen (RM188.15). Industrial robot maker Fanuc fell 1.85 percent to 22,550 yen (RM817.97).
Toyota zigzagged between positive and negative territory, and was down 0.11 percent to 2,271 yen (RM82.38). – AFP, February 3, 2022
