TOKYO: Tokyo stocks closed lower on Tuesday, with investors cautious over geopolitical risks linked to Ukraine and the Federal Reserve’s planned interest rate hikes.
The benchmark Nikkei 225 index dropped 1.66 percent, or 457.03 points, to end at 27,131.34, while the broader Topix index tumbled 1.72 percent, or 33.25 points, to 1,896.62.
“Investors became risk-averse due to uncertainties over US monetary policy and the Ukraine situation,” Okasan Online Securities said in a commentary.
“As a result, a wide range of stocks, particularly growth stocks, were sold, extending the decline,” it added.
US President Joe Biden declared “total” unity among Western powers Monday after crisis talks with European leaders on deterring Russia from an attack against Ukraine, as 8,500 US troops were put on standby for possible deployment to boost NATO.
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