In front of an electronic stock exchange display board.
(Photo: AP)
Hongkong Reports of fierce fighting near a nuclear power plant in Ukraine have alarmed investors. Markets in Asia and the euro suffered heavy losses on Friday as oil prices surged. “Markets are worried about nuclear fallout. The risk is that there will be a misjudgment or overreaction and the war will prolong,” said Vasu Menon, investment strategist at OCBC Bank. Investors therefore shied away from the risk.
The MSCI index of Asian stocks ex-Japan fell 1.6 percent to its lowest level since November 2020. On the Tokyo stock exchange, the 225-stock Nikkei index fell more than two percent to 26,021 points. The broader Topix index fell 1.9 percent to 1847 points.
The Shanghai stock exchange was down 0.4 percent. The index of the most important companies in Shanghai and Shenzhen lost 0.7 percent.
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