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16 Feb 2022

Asian Stocks Surge as Eastern European Tensions Retreat

The Index Today

Stocks climbed on Wednesday while crude oil dipped amid easing geopolitical tensions in Eastern Europe after Russia announced the withdrawal of its troops from Ukraine.

Shares edged higher in China, Japan, and Hong Kong in the face of slackening inflation that could pave the way for a relaxation of monetary policy to facilitate economic growth.

Russian President Vladimir Putin affirmed the “partial” departure of troops from the Ukrainian border which has been significant in abating the rising geopolitical tensions between both countries. However, the U.S. is yet to confirm the same with President Joe Biden maintaining that a Russian attack is still quite likely to happen.

As per UBS Financial Advisor Brenda O’Connor Juanas, “Volatility and uncertainty is just going to be heightened, that can be due to Russia-Ukraine, [and] it could be due to stubborn inflation.” She also contended that there is still “a lot more for clients and investors to be uncertain about.”

©Photo: Associated Press

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