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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.”

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