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.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.