Hopes for US-Russia summit curb losses in Asia

Tokyo Hopes for a summit meeting between US President Joe Biden and Russian President Vladimir Putin eased the pressure on Asian stock markets on Monday morning. Japan’s Nikkei 225 index was down 2.1 percent at the start of trading on fears of an invasion, but later recovered some of the losses. By the lunch break, the index was still 0.6 percent down at 26,943 points.

Kiyohide Nagata, chief strategist at Tokai Tokyo Research Center, stated, “There is a strong sentiment among investors that (both the US and Russia) will come to terms.”