Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Asian shares decline amid escalating tension in Ukraine

Asian shares decline amid escalating tension in Ukraine

Asian shares declined on Monday in morning session amid escalating geopolitical tension over Ukraine and after data showed Chinese manufacturing dropped to an eight-month low.

The MSCI Asia Pacific Index slid 1.2% to 136 as of 9:51 a.m. in Hong Kong. Japan’s Topix index lost 2.2% as the yen rose 0.5% to 101.33 per dollar.

Australia’s S&P/ASX 200 Index fell 0.7% and New Zealand’s NZX 50 Index declined 0.1%. South Korea’s Kospi index dropped 1.1%, while Hong Kong’s Hang Seng Index slid 0.9%.

China’s Shanghai Composite Index added 0.1%, while Singapore’s Straits Times Index declined 1%. Taiwan’s Taiex Index lost 1.1%.

A crisis in Ukraine has deteriorated as Russian President Vladimir Putin won parliamentary backing to send troops into its southern neighbour. The US, the UK and Canada are suspending preparations for a meeting of the Group of Eight industrial nations in Russia in June.

US Secretary of State John Kerry said he is preparing to visit Kiev as Russia seized control of Ukraine’s Crimea region, intensifying one of the most serious standoffs since the Cold War ended.

In China, Purchasing Managers’ Index declined to 50.2, the lowest since June, the National Bureau of Statistics and China Federation of Logistics & Purchasing said 1 March in Beijing.

In corporate news, BHP Billiton Ltd. (BHP), the world’s largest mining firm, fell 1.2% in Sydney as raw-materials shares posted the largest drop among the regional index’s 10 industry groups.

Speco Co., a South Korean defense contractor, rose 1.2% in Seoul after the defense ministry said North Korea fired two short-range missiles off the country’s east coast today.

Mazda Motor Corp., an automaker that gets 73% of sales overseas, tumbled 4.5% in Tokyo as the yen touched an almost one-month high against the dollar.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Play Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

In the second episode of our new series, Verleyen jumps on board a black cab and explains how hard it's become to find good valuation on the market.  

Wealth Manager on Twitter