Asian markets rise amid Russia-Ukraine talks, oil worries
TOKYO — Asian shares rose Tuesday as global investors eyed talks aimed at ending the Russian military assault on Ukraine, which so far have yielded just an agreement to keep talking.
Surging oil prices and increasing financial pressure from the U.S. and allies on Russia, one of the world’s largest energy exporters, for its invasion of Ukraine are adding to uncertainty about the global economic outlook. “Asian equities were higher on Tuesday mirroring a mild rebound on Wall Street and following talks between Russia and Ukraine. The market’s focus will continue to be on geopolitical tensions, at least in the short term,” Anderson Alves of ActivTrades said in a report.
Ordinary Russians facing likely higher prices and crimped foreign travel due to Western sanctions lined up at banks and ATMs on Monday. Deeper economic turmoil may loom if price shocks and supply-chain issues cause Russian factories to shut down due to lower demand. Markets already were on edge before Russia’s invasion, worried about upcoming hikes in interest rates by the Federal Reserve, which would be the first since 2018.
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