The latest developments in the Ukraine crisis and more hawkish statements from US Federal Reserve officials have influenced the Asian markets as stocks dipped on Thursday, while the sell-off in US Treasuries stalled and oil prices increased.
Outside of Japan, MSCI’s broadest index of Asia-Pacific stocks fell 0.6 percent. After hitting a two-month high in the previous session, Japan’s Nikkei tumbled more than 1 percent on Thursday morning.
China’s stock markets opened lower, with the Hang Seng Index in Hong Kong down 0.9 percent and the bluechip index on the mainland down 0.7 percent. Tencent Holdings’ stock fell 4.6 percent after the company reported its slowest-ever sales growth.
President Joe Biden of the United States arrived in Brussels on Thursday for a series of summit discussions on the Ukraine War, with Biden expected to announce a package of Russia-related sanctions on political figures and oligarchs.
Oil prices remained stable. Russia’s President Vladimir Putin warned on Wednesday that Moscow will seek reimbursement in roubles for gas exported to ‘unfriendly’ countries, referring to its operations in Ukraine as a ‘special operation.’
Brent futures were up 45 cents, or 0.4 percent, at $122.05 a barrel, while WTI futures were up 15 cents, or 0.2 percent, at $115.07 a barrel.
Post Your Comments