Asian shares regained ground on Friday, following Wall Street's overnight lead as U.S. President Joe Biden hit back at Russia with harsh sanctions after it unleashed troops, tanks and missiles on Ukraine.
A woman wearing a face mask walks past a screen displaying Hang Seng Index, in Hong KongSINGAPORE - Asian markets rebounded on Friday following Wall Street's surprising overnight reversal, as investors weighed the longer-term impact of tough Western sanctions against Russia after itEuropean stock markets looked set to follow Asia higher even as Russia pressed its attacks and global condemnation grew, with FTSE futures adding 0.78%, European futures up 2.
While Western nations redoubled their efforts to crimp Russia's ability to do business -- freezing bank assets and cutting off state-owned enterprises -- they stopped short of disconnecting Russia from the SWIFT international banking system or targeting its oil and gas exports, which some analysts said had helped markets to recover.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.57% by midday, Shanghai's composite index was up 0.57% and Japan's Nikkei was up 1.27%. South Korea's benchmark KOSPI index added 1.01%, recovering from a decline on Thursday.Hong Kong's Hang Seng index and Australian shares fell slightly, 0.44% and 0.03% respectively, after a strong start.
The yield on 10-year U.S. Treasuries was at 1.95% after an initial slide to 1.84% on Thursday, its biggest daily drop since late November.
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