Shares in Japan led losses in Asia-Pacific on Monday as investors monitored developments from the COVID situation in Hong Kong to tensions between Russia and Ukraine.
In Japan, the Nikkei 225 index plunged 616.49 points, or 2.2%, to 27,079.59, with shares of conglomerate SoftBank Group falling nearly 4%
The Japanese yen traded at 115.38 per U.S. dollar, having strengthened sharply from above 116 against the greenback late last week.
In Hong Kong, the Hang Seng Index lost 350.09 points, or 1.4%, to 24,556.57.
The city is currently facing a fifth wave of COVID infections, which its chief executive said has "dealt a heavy blow" to Hong Kong and "overwhelmed" its capacity to handle the situation. Over the weekend, Hong Kong’s chief secretary announced that mainland China will assist the city in areas such as testing and quarantine facilities.
Developments surrounding Russia-Ukraine tensions continued to be monitored by investors. Fears of a Russia attack on Ukraine sent stocks on Wall Street plunging Friday, with the NASDAQ Composite falling nearly 3%.
The Australian dollar was at $0.7114, off levels above $0.72 seen last week.
In other markets
In Shanghai, the CSI 300 retreated 49.71 points, or 1.1%, to 4,551.69
In Singapore, the Straits Times index slipped 7.75 points, or 0.2%, to 3,421.70
In Korea, the Kospi index slid 43.23 points, or 1.6%, to 2,704.48.
In Taiwan, the Taiex index lost 313.27 points, or 1.7%, to 17,997.67
In New Zealand, the NZX 50 dumped 223.64 points, or 1.8%, to 11,950.14.
In Australia, the ASX 200 regained 26.64 points, or 0.4%, to 7,243.91.
