TOKYO, Feb 22 ― 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 per cent or 391.72 points at 26,519.15 around 30 minutes after the opening bell, dipping more than two per cent.The dollar bought ¥114.67 ― seen as a safe-haven currency ― in early Asian trade, firming from 114.82 in London late yesterday. Oil prices spiked, with WTI up 3.14 per cent to US$93.93 per barrel and Brent North Sea gaining 1.98 per cent 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.Falls in the Japanese market were due to “intensifying tensions in Ukraine,” Toshiyuki Kanayama, senior market analyst at Monex, said in a note.Among shares in Tokyo, Nissan was down 3.28 per cent at ¥578.5, Uniqlo operator Fast Retailing was off 2.
Daiichi Sankyo soared 9.86 per cent to ¥2,801 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
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