Asian Equities Slightly Up as Ukraine Sours Mood

Asian stocks eked out gains on Monday after seeing Wall Street recover from the latest round of tensions in the Ukrainian crisis, although renewed uncertainty over the volatile conflict put a firm lid on markets.

The U.S. dollar was on the back foot against the safe-haven yen, weighed by a slide in Treasury yields.  MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent.  Tokyo’s Nikkei gained 0.1 percent.

News late on Friday that Ukrainian forces said they had destroyed a Russian military column in Ukrainian territory initially hit Wall Street, drove down government bond yields and boosted safe-haven currencies such as the yen and Swiss franc.  U.S. stocks eventually pared their losses as risk appetite partially returned, giving Asian shares an early lift on Monday.

Reuters

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