Tokyo shares end lower on Ukraine crisis

TOKYO: Tokyo shares ended lower on Monday as geopolitical tensions soared over the situation in Ukraine.

The benchmark Nikkei 225 index gave up 0.78 percent, or 211.20 points, to 26,910.87, while the broader Topix index slipped 0.71 percent, or 13.63 points, to 1,910.68.

The dollar stood at 114.94 yen in Asian trade, off slightly from 115.03 yen in New York late Friday.

The intensifying crisis over a possible Russian invasion of Ukraine continued to weigh on the market.

Tokyo stocks slip in early trade with Ukraine fears

But Tokyo stocks trimmed losses after US President Joe Biden and his counterpart Vladimir Putin agreed to a summit to be held only if Russia does not invade Ukraine, although the news was not enough to send shares into positive territory.

"Investors have been wary of geopolitical risks over the intensifying Ukraine situation, causing the Nikkei index to open lower," Okasan Online Securities said.

The 1.2 percent fall in the tech-rich US Nasdaq index on Friday also drove down "growth" shares of rapidly expanding companies, the brokerage added.

After a morning selloff, investors bought some shares on dips, halting a further drop of the market. They then took a wait-and-see stance towards the end of the session with the US market closed for a national holiday on Monday.

Among major shares, Toyota eased 0.50 percent to 2,173 yen and Sony Group lost 1.53 percent to 11,890 yen.

SoftBank Group fell 0.46 percent to 5,160 yen. Major airline ANA Holdings fell 0.67 percent to 2,612.5 yen.

Industrial robot maker Fanuc rose 0.30 percent to 21,525 yen, however. Uniqlo operator Fast Retailing also edged up 0.11 percent to 64,410 yen.