Home ›› 01 Mar 2022 ›› Stock
Tokyo shares recovered early losses and closed higher on Monday as investors closely watched planned talks between Ukraine and Russia.
The benchmark Nikkei 225 index added 0.19 per cent, or 50.32 points, to end at 26,526.82, while the broader Topix index climbed 0.57 per cent, or 10.69 points, to 1,886.93.
“Western nations announcing the plan to shut out some Russian banks from the SWIFT network led to a sell-off on concerns about economic impacts” in the morning, Okasan Online Securities said in a note.
SWIFT’s messaging system allows banks to communicate rapidly and securely about transactions, and cutting Russia off would cripple its trade with most of the world.
Japan also said late Sunday it would join Western nations in removing selected Russian banks from SWIFT.
Investors were also watching talks expected later today between Ukraine and Russia, Okasan added.
Ukraine said it had agreed to send a delegation to meet Russian representatives on the border with Belarus, which has allowed Russian troops passage to attack Ukraine. The dollar fetched 115.50 yen in Asian trade, against 115.56 yen in New York late Friday.
In Tokyo trading, Uniqlo operator Fast Retailing edged up 0.12 per cent to 61,830 yen while SoftBank Group rose 1.10 per cent to 5,125 yen.
Nippon Yusen soared 4.60 per cent to 10,670 yen after a report said it will keep its ships from stopping at Ukraine.
