Asian stocks surge on Ukraine de-escalation hopes
Markets in Asia-Pacific jumped on Wednesday, picking up on positive sentiment from Wall Street as concerns of an impending war in Ukraine eased after Moscow announced it cut the number of troops near the Ukrainian border and United States President Joe Biden stated he agreed with his Russian counterpart Vladimir Putin to continue pursuing diplomatic efforts to resolve the crisis. Elsewhere, China reported weaker-than-expected inflation figures as consumer prices rose 0.9% on an annual basis in January.
The Nikkei 225 surged 2.22% at the end of the session. The dollar was up 0.05% against the yen, selling for 115.6860 at 7:14 am CET.
Hong Kong’s Hang Seng climbed 1.10% at 7:14 am CET. In mainland China, the Shanghai Composite increased 0.33% at 7:16 am CET and the Shenzhen Composite added 0.60% at 7:02 am CET.
In South Korea, the Kospi rallied 1.91% at 7:18 am CET and Australia’s S&P/ASX 200 closed 1.08% higher.
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