Asia-Pacific stocks mixed as investors watch Russia-Ukraine situation

Asia-Pacific stocks mixed as investors watch Russia-Ukraine situation


SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday trade as investors watch for developments surrounding the war in Ukraine.

The Nikkei 225 in Japan slipped 0.26% as shares of telecommunications firm KDDI fell more than 2%. The Topix index shed 0.62%.

Elsewhere, South Korea’s Kospi advanced 0.5%. In Australia, the S&P/ASX 200 climbed 0.58%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.41% higher.

Hong Kong-listed shares of embattled developer Evergrande’s electric vehicle unit are set to resume trading on Wednesday, the company announced Tuesday. Meanwhile, Hong-Kong listed shares of China Evergrande Group will “remain suspended until further notice,” according to a Tuesday announcement by the firm.

In Russia-Ukraine developments, the Russian military has begun moving some of its troops in Ukraine away from areas around Kyiv to positions elsewhere in Ukraine, though Pentagon Press Secretary John Kirby warned the troop movements do not amount to a retreat.

U.S. Treasury yields also continued to be monitored by investors on Wednesday. The yield on the benchmark 10-year Treasury note last sat at 2.3907% while the yield on the 30-year Treasury bond was at 2.5035%. The 5-year Treasury note yield was at 2.4916% while the 2-year Treasury note’s yield sat at 2.3586%. Yields move inversely to prices.

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Earlier this week, the 5-year and 30-year rates inverted for the first time since 2006. An inversion of the yield curve has happened previously ahead of recessions, with the purchase of more long-dated Treasurys seen as a sign of investor concern over the economy’s health.

Overnight on Wall Street, the S&P 500 gained about 1.23% to 4,631.60. The Dow Jones Industrial Average climbed 338.30 points, or 0.97%, to 35,294.19 while the tech-heavy Nasdaq Composite jumped 1.84% to 14,619.64.

Oil rises more than 1%

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 1.54% to $111.93 per barrel. U.S. crude futures gained 1.1% to $105.39 per barrel.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.421 after a recent drop from above 98.8.

The Japanese yen traded at 123.01 per dollar, stronger than levels above 124 seen against the greenback earlier this week. The Australian dollar changed hands at $0.751, still higher than levels below $0.74 seen last week.



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