Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

1 Mar 2022

Asian Shares Stabilize as Investors Remain Wary of Ukraine-Russia Tensions

The Index Today

Following several days of volatility, markets see some relief with Asian shares climbing and gold dipping marginally amid investors’ worries over the economic impact of mounting geopolitical upheaval between Russia and Ukraine.

This comes after shares across the world slumped on account of Ukraine-Russia tensions after the West imposed sanctions on the Kremlin including its exclusion from the SWIFT international payments system.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.5% while Japan’s Nikkei gained 1.5% during early trades.

Chinese blue chips edged higher by 0.5% while Australia’s S&P/ASX 200 index climbed by 1.38%, spurred by tech and fiscal stocks.

According to Kerry Craig of JPMorgan Asset Management, “A lot of what's been happening in markets is obviously overshadowed by the news around Ukraine and Russia in terms of negotiations, but the significant drivers are going to be the response from governments and central banks in terms of the policy settings.”

Clay pottery with table linens