HONG KONG, March 30 — Most stocks rose again today as investors gave a cautious welcome to Russia’s pledge to “radically” wind down military activity around two cities including Kyiv, lifting hopes for a ceasefire in the month-long Ukraine war.
And Kyiv’s negotiator David Arakhamia said there were “sufficient” conditions for President Volodymyr Zelensky and his Russian counterpart Vladimir Putin to meet in a push to end the crisis. The strong gains on Wall Street and in Europe were largely matched in Asia, with Hong Kong, Shanghai, Sydney, Seoul, Singapore, Mumbai, Taipei, Manila, Jakarta and Wellington all performing well. Tokyo bucked the trend by falling.“The first sign of good news, no matter how tenuous, from the Ukraine-Russia talks resulted in a mass stampede into equities,” said OANDA’s Jeffrey Halley.
And Moscow-based political analyst Evgeny Minchenko added: “I think there was very serious misunderstanding of what both sides said in Istanbul after the talks. “We’re not prepared to call this a retreat or even a withdrawal,” Pentagon spokesman John Kirby said, warning a “major offensive” may yet be imminent in other areas of Ukraine and that the threat to Kyiv was not over.Speculation about a hefty drop in demand caused by a lockdown of more than 20 million people in Shanghai, China’s biggest city, and hopes for progress in Iran nuclear talks were also weighing on prices.
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