Nikkei Reports Small Losses as Fears of Imminent Conflict in Ukraine

The Nikkei extended its losses on Friday after investors took some reassurance from the news that US Secretary of State Anthony Blinken and his Russian counterpart Sergei Lavrov will meet next week, indicating that a Russian invasion of Ukraine is not imminent.

The Nikkei ended Friday down 0.41 percent to record 27,122.07 points, after falling by 1.62 percent in the morning session.

The broader Topix index fell 0.36 percent to 1924.31 points, after a 1.33 percent decline during the session. Growth-related stocks were the biggest decliners.

Chipmakers fell, with Tokyo Electron down 2.42 percent and Advantest down 2.05 percent.

The energy sector was the worst performer on the Nikkei, which plunged 2.26 percent as oil prices fell. The financial sector index fell 0.99 percent.

As for the gainers, the shipping companies’ shares were among the best performers. Shares of Mitsui OSK Lines, Kawasaki Kesen Kaisha and Nippon Yusen recorded the highest increase over the Nikkei in terms of percentage points.

SoftBank Group shares rose 1.31 percent.