TOKYO: Japan’s Nikkei index marked its lowest close in 15 months on Thursday as investors worldwide dumped risk assets after Russian forces attacked Ukraine.
Russia fired missiles at several Ukrainian cities and landed troops on Ukraine’s south coast, according to officials and media reports.
The Nikkei share average closed 1.81% lower at 25,970.82, its weakest since Nov. 20, 2020, after paring earlier losses of up to 2.5%. The broader Topix fell 1.25% to 1,857.58.
Both indexes notched a fifth straight session of decline.
“The Nikkei seems to have fallen to its bottom relative to its valuations and domestic corporate earnings,” said Ikuo Mitsui, fund manager at Aizawa Securities. Investors will now look at how the Ukraine situation affects the real economy and central bank reactions to it, he said.
Global stocks and US bond yields dived on Thursday after Russian President Vladimir Putin authorised what he called a special military operation in Ukraine and Kyiv accused Moscow of launching a full-scale invasion.
Uniqlo brand clothing shop owner Fast Retailing was the biggest drag on the Nikkei, falling 3.82%, while technology investor SoftBank Group dropped 6.83% and robot maker Fanuc’s slid 5.42%.
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