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25 Feb 2022
Asian Shares Bounce Back as Investors Remain Vary of Ukraine-Russia Crisis
The Index Today
Asian shares bounced back on Friday due to Wall Street’s sudden reversal overnight, even as markets remain pensive over Russia’s invasion of Ukraine and the resulting Western sanctions on the Kremlin.
European stock markets have improved with Germany’s DAX futures and FTSE futures edging higher by 1.56% and 0.78% respectively. European futures also rose by 2.2%. In contrast, U.S. futures dipped during the Asian session with Nasdaq futures plummeting by 0.92% and S&P500 e-mini futures down by 0.61%.
According to OANDA’s Senior Market Analyst Jeffrey Halley, "The limits to the economic pain that the 'West' was prepared to tolerate to support Ukraine and punish Russia have been revealed within 24 hours of Russia's offensive beginning."
MSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.57% at noon and Japan’s Nikkei soared by 1.27%. Shanghai’s composite index inched up by 0.57% while South Korea’s KOSPI index rose by 1.01%. However, Hong Kong’s Hang Seng index dropped by 0.44%.