TOKYO – Tokyo stocks slumped and oil prices rose today after Russian President Vladimir Putin ordered his troops into two Moscow-backed rebel regions of Ukraine.
The benchmark Nikkei 225 index was down 1.46% or 391.72 points at 26,519.15 around 30 minutes after the opening bell, dipping more than 2%.
The broader Topix index was down 1.1% or 21.02 points at 1,889.66.
The dollar bought 114.67 yen (RM4.19) – seen as a safe-haven currency – in early Asian trade, firming from 114.82 yen in London late yesterday.
Oil prices spiked, with WTI up 3.14% to US$93.93 (RM393.24) per barrel and Brent North Sea gaining 1.98% to US$95.39 per barrel.
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.
Investors in Tokyo were spooked by Putin’s announcement, which defied Western threats of sanctions.
Falls in the Japanese market were due to “intensifying tensions in Ukraine”, Toshiyuki Kanayama, senior market analyst at Monex, said in a note.
US markets had been closed for a holiday yesterday.
Among shares in Tokyo, Nissan was down 3.28% at 578.5 yen, Uniqlo operator Fast Retailing was off 2.48% at 62,810 yen, and airline ANA Holdings was down 1.4% at 2,576 yen.
Daiichi Sankyo soared 9.86% to 2,801 yen after AstraZeneca reportedly said data from a late-stage trial showing its drug Enhertu – which the Japanese drugmaker jointly develops – helps patients with a type of breast cancer live longer, potentially expanding treatment options. – AFP, February 22, 2022
