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Russia-Ukraine crisis, Bank of Korea, currencies

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SINGAPORE — Asia-Pacific shares fell on Thursday as investors continue to watch the escalating situation between Russia and Ukraine.

The Shanghai composite in mainland China fell 0.32% and the Shenzhen component dropped 0.4%. Hong Kong Hang Seng index was down 1.3%.

Japan has the following: Nikkei 225The Topix declined 0.3% while it fell by 0.73%

South Korea Kospi was down 1.6%. Bank of Korea kept interest rates unchanged at 1.25% at its meeting on Thursday. The report did however predict that the consumer price inflation would remain “substantially over 3% for quite some time.”

Australia’s S&P/ASX 200 fell 2.78%. The MSCI’s largest index of Asia-Pacific shares, which is not based in Japan, traded at 1.62% less.

Earnings: AlibabaAsia’s third-quarter results will be reported late in Asia.

Russia-Ukraine conflict

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This week, the crisis reached a new stage when Vladimir Putin, Russian President said that Moscow would officially recognize independence from two pro-Moscow regions of eastern Ukraine.

Russian state-controlled media will be controlling Wednesday’s news reported that Moscow had started evacuating people from its embassyKyiv, Ukraine’s capital.

The three main indexes fell overnight on Wall Street. The S&P 500 fell 1.8% and slid deeper into correction, while the Dow Jones Industrial Average dropped 1.38% to 33,131.76. Nasdaq Composite, a technology-focused index, lost 2.6% at 13,037.49.

Currencies

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