Ukraine and China Data Send Asian Equities Lower

Few bright sparks could be found in Asian stock markets on Monday, as mounting tensions over Ukraine and weak official purchasing managers’ index (PMI) figures from China weighed on sentiment. Chinese shares, however, were the sole exception trading in positive territory.

Ukraine mobilized for war on Sunday, calling up its reserves after Russian President Vladimir Putin threatened to invade in the biggest confrontation between Moscow and the West since the Cold War, Reuters reported on Sunday.

Traders also digested China’s latest PMI data. The official PMI, released Saturday, showed activity in the factory sector slowed to an 8-month low in February, reinforcing signs of a modest slowdown in the economy as demand weakens.

CNBC

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