Asian shares rise as Russia-Ukraine talks on sentiment according to Reuters

© Reuters. FILE PHOTO: A customer delivers Russian ruble banknotes and coins to a vendor at a market in Omsk, Russia February 18, 2022. REUTERS / Alexey Malgavko

By Stella Qiu and Alun John

BEIJING (Reuters) – Asian shares rallied on Thursday, tracking Wall Street’s rally as planned diplomatic talks between Russia and Ukraine stoked sentiment, though analysts warned that the uptrend could be easily reversed as risks remain.

Oil prices also regained some ground, having fallen more than 12% in the previous session as the United Arab Emirates pledged to support increased oil production to ease turmoil in energy markets.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.6% in early trade. up 3.4% while Australian shares gained 1%.

China’s blue-chips gained 1.96% while Hong Kong’s rose 1.8%.

“Comments from Russia and Ukraine are leading to some hope that compromise is possible,” said Ray Attrill, Head of FX Strategy at National Australia Bank (OTC:).

Russian Foreign Minister Sergei Lavrov arrived in Turkey ahead of talks scheduled for Thursday with his Ukrainian counterpart Dmytro Kuleba about the first meeting between the two sides since Russia invaded Ukraine two weeks ago.

Attrill added Ukraine’s accusations of Russia bombing a hospital in the city of Mariupol and concerns that radioactive leaks at Ukraine’s nuclear sites could risk further retaliation by Western nations.

rose 1.37% to $110.19 per barrel, while up 2% to $113.2 per barrel.

European Union leaders will phase out Russia’s purchases of oil, gas and coal gradually, a draft statement released Thursday, as the bloc seeks to reduce reliance on energy sources of Russia.

The United States banned oil and gas imports from Russia on Tuesday, while Britain said it would eliminate Russian oil imports by the end of the year.

Higher energy prices will bolster expectations that the US Federal Reserve will raise interest rates by 25 basis points at its policy meeting next week to rein in soaring inflation.

Figures released late on Thursday are expected to show the race for US consumer inflation at 7.9 per cent year-on-year, according to a Reuters poll, according to a Reuters poll. .

“From a central bank perspective, the war in Ukraine is likely to lead to increased pressure on price inflation,” said David Chao, global market strategist at Invesco, based in Hong Kong. consumption and can cause a supply-side shock.

“U.S. equities could be in a holding position with higher volatility as investors gauge the impact of the Ukraine conflict on inflation and possible Fed actions.”

US stocks rallied overnight, led by financial and technology stocks. Added 3.59% while increasing 2%. Inc (NASDAQ::) on Wednesday said its board approved a 20-for-one split of the e-commerce giant’s common stock and authorized a value-added buyback plan. for $10 billion, sending the company’s stock up 7% in extended trading.

In money markets, the euro traded at $1.1047 after gaining 1.6% on Wednesday, its best day since June 2016, along with gains in European stocks and The bond selloff, while the safe-haven yen, fell to a one-month low of 116 per dollar. [FRX/]

Yields on the benchmark fell to 1.392 percent from a US close of 1.948 percent on Wednesday.

The two-year yield, which rose with traders’ expectations of higher Fed funds rates, touched 1.6697% from a US close of 1.678%.

Source link


News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button