Tokyo stocks slumped Tuesday as surging oil prices and the Russia-Ukraine crisis continued to drag down global markets, IgbereTV reports.
The benchmark Nikkei 225 index dropped 1.71 percent, or 430.46 points, to 24,790.95, while the broader Topix index gave up 1.90 percent, or 34.17 points, to 1,759.86.
The dollar fetched 115.52 yen, up from 115.27 yen in New York Monday.
The Tokyo market opened in negative territory, tracking falls on Wall Street, although bargain-hunters temporarily lifted the Nikkei above water by mid-morning.
But Russia’s intensifying assault on Ukraine continued to weigh on the market, with many investors already jittery about taking risks as they braced for possible further losses on Wall Street later in the day.
“Particularly in the afternoon session, investors increased their wariness about rising oil prices, and the Nikkei again extended its losses,” Okasan Online Securities said.
“Near the closing bell, the index was hovering near the intra-day low,” the brokerage added
