TOKYO/SHANGHAI (Dow Jones) — Oil and gold prices are rising in Asian financial markets amid the ongoing war in Ukraine and the West’s ever-tightening sanctions against aggressor Russia. The dollar is sought after as a supposedly safe haven, the dollar index is up 0.8 percent. The yen, on the other hand, is relatively unremarkable. There is uncertainty on the stock market, which can be seen in the volatility, but don’t panic – even though the Russian ruler Vladimir Putin has put the country’s nuclear armed forces on alert. Investors would have to deal with a whole mountain of negative information from the weekend, and the effects of some things are not yet entirely clear. This continues to speak for a high level of volatility.
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Stock prices are falling in China, moderately in Shanghai and more clearly in Hong Kong. Analysts see the bottom after last week’s sell-off as having been reached. China could become one of the beneficiaries of Russian isolation, they say. In addition, there may be more economic stimuli in China as part of the annual People’s Debuters’ Congress. The stock exchange in Hong Kong is more international and therefore more dependent on international developments in the financial markets. And the war in Ukraine is burdened with sanctions, they say.
In South Korea, the Kospi proves strength – despite another North Korean missile test. The leading index is turning positive and is now somewhat firmer. Talks between Russians and Ukrainians about a truce gave hope.
In Tokyo, the Nikkei 225 recovers from slight losses and turns positive. Electronics stocks tend to be under pressure. Investors fear that electronic components can no longer be exported to Russia – or can because of the sanctions against Russian banks. Advantest lose 1.5 percent, Lasertec 1.2 percent. In the oil sector, Inpex rose by 3.8 percent – fueled by the rise in oil prices.
In Sydney, the S&P/ASX-200 closed on a friendly note. The index was extremely volatile – with trips into the red. The market was supported by the commodities sector – thanks to higher commodity prices. Rio Tinto, BHP and BlueScope gained between 3.2 and 6.25 percent. Fortescue optically lost 2.4 percent, the titles were traded ex dividend. Insurance stocks came under pressure because of the flooding in the east of the country.
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Index (stock market) last +/- % % YTD end
S&P/ASX 200 (Sydney) 7,049.10 +0.7% -5.3% 06:00
Nikkei-225 (Tokyo) 26,532.59 +0.2% -8.0% 07:00
Kospi (Seoul) 2,689.16 +0.5% -9.7% 07:00
Shanghai Comp. 3,449.52 -0.1% -5.2% 08:00
Hang Seng (Hongk.) 22,566.20 -0.9% -2.6% 09:00
Straits-Times (Sing.) 3,227.63 -2.0% +5.5% 10:00
KLCI (Malaysia) 1,599.23 +0.5% +1.5% 10:00
FOREX last +/- % 00:00 Fri, 12:05 % YTD
EUR/USD 1.1152 +0.0% 1.1152 1.1177 -1.9%
EUR/JPY 128.82 -0.0% 128.84 128.96 -1.6%
EUR/GBP 0.8348 -0.1% 0.8359 0.8354 -0.7%
GBP/USD 1.3358 +0.1% 1.3341 1.3381 -1.3%
USD/JPY 115.53 -0.0% 115.55 115.38 +0.4%
USD/KRW 1,197.92 0% 1,197.92 1,202.66 +0.8%
USD/CNY 6.3175 0% 6.3175 6.3159 -0.6%
USD/CNH 6.3130 -0.2% 6.3276 6.3151 -0.7%
USD/HKD 7.8117 +0.0% 7.8086 7.8087 +0.2%
AUD/USD 0.7181 +0.0% 0.7179 0.7199 -1.1%
NZD/USD 0.6688 -0.0% 0.6690 0.6717 -2.0%
Bitcoin
BTC/USD 37,838.48 +0.0% 37,827.22 38,470.23 -18.2%
ROHL last VT-Settl. +/- % +/- USD % YTD
WTI/Nymex 96.68 91.59 +5.6% 5.09 +29.9%
Brent/ICE 103.15 97.93 +5.3% 5.22 +27.2%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 1,908.44 1,889.20 +1.0% +19.24 +4.3%
Silver (Spot) 24.34 24.28 +0.3% +0.06 +4.4%
Platinum (Spot) 1,062.55 1,055.05 +0.7% +7.50 +9.5%
Copper Future 4.50 4.47 +0.6% +0.03 +0.8%
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(END) Dow Jones Newswires
February 28, 2022 01:08 ET (06:08 GMT)
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