Tokyo stocks retreat amid geopolitical, economic uncertainties
Tokyo stocks retreated on Wednesday as investors grappled with heightened uncertainties surrounding US monetary policy and geopolitical tensions between Ukraine and Russia.
Ukrainian President Volodymyr Zelensky is planning to expand the country’s construction of solar systems to stabilise the energy grid, which has been significantly impacted by Russian attacks.
“The government has been tasked with immediately presenting a program to encourage the installation of solar generation and energy storage systems in Ukraine,” Zelensky said in his daily video address on Thursday.
According to the plan, citizens who install solar panels will be able to receive an interest-free loan.
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The President said that measures were taken to protect energy facilities from ongoing attacks by Russia and specific deadlines were established for the completion of the protective structures.
Zelensky pledged to build more facilities for decentralised energy supply to ensure administration and critical infrastructure buildings had an alternative energy source during power outages.
Ukraine has been defending itself against a full-scale Russian invasion for more than two years.
Official figures show that about half of Ukraine’s energy production capacity has been lost due to systematic Russian attacks on Ukrainian energy facilities with drones and missiles.
Strict energy rationing and daily power cuts have been implemented, with concerns about the situation worsening in the winter.
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