Japan Shares Close Lower Due to Ukraine Crisis

Japanese stocks fell on Thursday after concerns over Ukraine curbed risk appetite, while investors remained concerned about rising interest rates globally to contain widening inflationary pressures.

The Nikkei index lost 0.83 percent to close at 27,232.87 points, while the broader Topix index fell 0.79 percent to 1931.24 points. The Nikkei rose 2.2 percent on Wednesday.

Recruitment agency Recruit Holdings pushed the Nikkei index to decline after its shares fell 5.76 percent, followed by Fast Retailing, owner of the Uniqlo clothing brand, whose shares fell 1.13 percent. Shares of SoftBank Group to invest in technology 2.27 percent.

With the start of a decline in new infections with Covid-19 in Japan, the shares of companies that will benefit from the reopening rose, as railway companies rose 0.03 percent and airline shares rose 0.89 percent.