Berliner Boersenzeitung - Asian markets drop as Ukraine fears return, oil extends losses

EUR -
AED 4.176264
AFN 79.390778
ALL 98.193331
AMD 435.359105
ANG 2.034873
AOA 1043.206027
ARS 1289.7675
AUD 1.750315
AWG 2.048029
AZN 1.937421
BAM 1.956066
BBD 2.291911
BDT 138.25877
BGN 1.95741
BHD 0.428558
BIF 3378.258635
BMD 1.137004
BND 1.460198
BOB 7.844065
BRL 6.420327
BSD 1.135154
BTN 96.761136
BWP 15.237069
BYN 3.714804
BYR 22285.28547
BZD 2.28011
CAD 1.561847
CDF 3257.517905
CHF 0.934014
CLF 0.027894
CLP 1070.435323
CNY 8.191325
CNH 8.155272
COP 4741.443703
CRC 577.378385
CUC 1.137004
CUP 30.130616
CVE 110.279972
CZK 24.862424
DJF 202.137442
DKK 7.464552
DOP 67.039101
DZD 150.321408
EGP 56.7187
ERN 17.055065
ETB 153.667162
FJD 2.560311
FKP 0.841706
GBP 0.840017
GEL 3.115836
GGP 0.841706
GHS 12.542703
GIP 0.841706
GMD 81.864718
GNF 9833.334982
GTQ 8.713183
GYD 237.482241
HKD 8.905683
HNL 29.547011
HRK 7.538002
HTG 148.530165
HUF 403.94398
IDR 18472.057095
ILS 4.107968
IMP 0.841706
INR 96.806883
IQD 1487.001877
IRR 47896.309096
ISK 145.150415
JEP 0.841706
JMD 180.384489
JOD 0.806181
JPY 162.103149
KES 146.699916
KGS 99.431468
KHR 4543.616845
KMF 494.032708
KPW 1023.288434
KRW 1552.841401
KWD 0.348504
KYD 0.945928
KZT 580.568819
LAK 24524.329445
LBP 101705.707657
LKR 339.836136
LRD 227.020821
LSL 20.317958
LTL 3.357279
LVL 0.687763
LYD 6.201842
MAD 10.434117
MDL 19.682672
MGA 5075.68908
MKD 61.538355
MMK 2386.919341
MNT 4068.577622
MOP 9.154843
MRU 45.143129
MUR 51.9729
MVR 17.578517
MWK 1968.267214
MXN 21.877499
MYR 4.81071
MZN 72.666378
NAD 20.317958
NGN 1807.613767
NIO 41.775672
NOK 11.49072
NPR 154.818018
NZD 1.89955
OMR 0.437609
PAB 1.135154
PEN 4.153064
PGK 4.653632
PHP 62.956357
PKR 319.939835
PLN 4.25999
PYG 9056.229482
QAR 4.137262
RON 5.055353
RSD 117.235916
RUB 90.212247
RWF 1626.02075
SAR 4.264548
SBD 9.494859
SCR 16.27821
SDG 682.775298
SEK 10.833622
SGD 1.46367
SHP 0.893507
SLE 25.833161
SLL 23842.413185
SOS 648.688066
SRD 42.270984
STD 23533.694664
SVC 9.932348
SYP 14783.277415
SZL 20.312758
THB 36.956096
TJS 11.63488
TMT 3.9852
TND 3.392961
TOP 2.662982
TRY 44.334973
TTD 7.716048
TWD 34.07864
TZS 3061.915688
UAH 47.117797
UGX 4143.562534
USD 1.137004
UYU 47.156402
UZS 14647.988624
VES 107.840913
VND 29509.811178
VUV 138.008217
WST 3.15657
XAF 656.046065
XAG 0.033953
XAU 0.000339
XCD 3.072812
XDR 0.815911
XOF 656.046065
XPF 119.331742
YER 277.258926
ZAR 20.27546
ZMK 10234.40773
ZMW 31.045215
ZWL 366.11494
  • SCS

    -0.0600

    10.09

    -0.59%

  • CMSD

    0.1600

    21.89

    +0.73%

  • NGG

    1.1600

    74.79

    +1.55%

  • GSK

    -0.2600

    38.66

    -0.67%

  • AZN

    0.4600

    70.41

    +0.65%

  • RBGPF

    65.0500

    65.05

    +100%

  • RIO

    0.4600

    61.58

    +0.75%

  • BTI

    0.6200

    45.22

    +1.37%

  • BCE

    0.0600

    21.53

    +0.28%

  • BCC

    -0.7700

    86.56

    -0.89%

  • CMSC

    -0.0200

    21.94

    -0.09%

  • BP

    0.1500

    29.09

    +0.52%

  • VOD

    -0.0700

    10.47

    -0.67%

  • JRI

    0.0500

    12.69

    +0.39%

  • RELX

    0.4600

    55.44

    +0.83%

  • RYCEF

    0.1200

    11.32

    +1.06%

Asian markets drop as Ukraine fears return, oil extends losses
Asian markets drop as Ukraine fears return, oil extends losses

Asian markets drop as Ukraine fears return, oil extends losses

Asian markets fell Friday following a steep drop on Wall Street fuelled by renewed fears that Russia will soon invade Ukraine, adding to long-running angst about the Federal Reserve's plans to hike interest rates.

Text size:

While tensions in Eastern Europe continue to absorb most of the attention, oil extended losses as traders grow increasingly optimistic of a deal on Iran's nuclear programme that could see it restart crude exports.

After a disappointing start to the year, investors are still to get their mojo back as they contend with a range of risk-off issues including Russia-Ukraine, soaring inflation, imminent rate hikes, supply chain snarls and China's Covid outbreaks.

And analysts warned the uncertainty will likely last for some time.

For now eyes are on the Russia-Ukraine border after Joe Biden warned Vladimir Putin's forces could attack any time soon.

There had been optimism the crisis had passed after Moscow said troops were withdrawing but Western powers said there is no sign that is the case, while accusing it of preparing a "false flag operation" as a pretext for invasion.

Putin denies he is planning any incursion but investors remain on edge as observers warn such a move could have wide-ranging implications for the world economic recovery, particularly with Russia being a major energy exporter.

US Secretary of State Antony Blinken and his Russian counterpart Sergei Lavrov will meet next week, Washington said late Thursday, if there is no invasion.

All three main US indexes ended well down, with the Nasdaq almost three percent off, though Asia was more muted.

Hong Kong, Tokyo, Sydney, Seoul, Singapore, Taipei, Wellington, Manila and Jakarta slipped, though Shanghai edged up slightly.

"For now, simmering frictions in the Ukraine are keeping markets nervous and after (Thursday's) glimpses of a risk of tone, news over the past 24 hours have turned sentiment decisively negative," said National Australia Bank's Rodrigo Catril.

Still, oil prices remain in their downward spiral, dropping again Friday after a two percent drop Thursday as it emerged that Tehran and world powers were edging closer to an agreement on its nuclear programme.

A deal could see the return of hundreds of thousands of barrels of crude to the global market, providing a much-needed boost to supplies just as demand surges and uncertainty reigns in Europe. Both main contracts remain around their 2014 levels, however, and analysts expect them to break $100 this year.

The crisis in the Ukraine comes as traders continue to contend with the prospect of interest rates rising sharply this year as the Fed tries to rein in inflation at a 40-year high.

After spending most of last year saying surging prices would be transitory, the US central bank is now in full-on firefighting mode but commentators fear it may be behind the curve and will have to act more stringently than previously thought.

While minutes from January's meeting appeared to ease worries of a big 50 basis point rise in March, there is an expectation it could still lift borrowing costs as many as seven times this year. As early as late 2021 markets were pricing in three.

The prospect of higher costs has dealt a blow to the two-year pandemic rally and while the economy continues to recover, observers warn the uncertainty will not go away soon.

"We've been calling for a long time for increased volatility, but when it finally comes it's nerve wracking for everybody," Carol Schleif, at BMO Family Office, told Bloomberg TV.

"It's important to remember that the Fed isn't going to start pulling back its support for the economy -- either in terms of the balance sheet purchases or interest-rate raises -- if they weren't trying to cool a very strong economy."

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.5 percent at 27,094.16 (break)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 24,721.69

Shanghai - Composite: UP 0.1 percent at 3,471.58

West Texas Intermediate: DOWN 0.9 percent at $90.95 per barrel

Brent North Sea crude: DOWN 0.8 percent at $92.23 per barrel

Euro/dollar: UP at $1.1369 from $1.1366 late Wednesday

Pound/dollar: DOWN at $1.3605 from $1.3615

Euro/pound: UP at 83.56 pence from 83.44 pence

Dollar/yen: DOWN at 115.21 yen from 114.91 yen

New York - Dow: DOWN 1.8 percent at 34,312.03 (close)

London - FTSE 100: DOWN 0.9 percent at 7,537.37 (close)

(K.Lüdke--BBZ)