Japan Shares Fall to The Lowest Level in Two Weeks

Japanese shares fell to their lowest level in nearly two weeks on Friday as the fighting in Ukraine escalated, but the Nikkei index avoided its lowest close in 15 months as the market settled in the midday session.

The Nikkei ended the session down 2.23 percent to close at 25,985.47 points, after falling three percent in the morning to touch 25,774.47 points for the first time since November 2020.

The broader Topix index fell 1.96 percent to 1,844.94 points, to compensate for its losses earlier in the session, when it fell 2.42 percent.

The Nikkei index fell for the third week in a row and fell 1.86%, and the Topix index fell 1.67 percent, in the third consecutive weekly decline as well.

All sub-indices on the Nikkei index fell on Friday, but energy stocks were the least down, as they were supported by the increase in oil prices due to concerns linked to Russia.

Shares of Hino Motors posted the biggest drop in the Nikkei in percentage terms, plummeting 14.76 percent after a local media report said the truck maker was under investigation over emissions data. Shares of the parent company, Toyota Motor, fell 3.57 percent.

Chipmakers also fell, Tokyo Electron fell 3.82 percent, while Advantest fell 4.12 percent.

The shipping sector rose, with Mitsui OSK Lines adding 3.86 percent and Nippon Yusen KK adding 1.45 percent.