TOKYO/HONG KONG -- About 70% of Asia's biggest companies lost value in the first two months of Russia's invasion of Ukraine, with investors spooked by the economic fallout from the war and the impact of tough new COVID-19 lockdowns in manufacturing powerhouse China.
The market capitalization of prominent firms such as Tencent Holdings, Taiwan Semiconductor Manufacturing Co. and Samsung Electronics dropped as high raw material costs and supply chain concerns weigh on manufacturers. But the value of energy and commodity companies in India, Thailand and Malaysia rose as their output commands higher prices.
