Asian equities came under renewed pressure after commodities spike amid Russia showing no sign of backing down on Ukraine.
The CSI300, HSI, SET and TOPIX counted loss by 0.89%, 1.84%, 0.26% and 1.96% respectively while KOSPI closed marginally higher by 0.16%.
This week counts as the second after Russian President Vladimir Putin ordered a full-scale invasion of its neighbours with reports emerged today of Russian forces bombarding Ukrainian cities while Western nations tightened sanctions on Moscow.
Earlier U.S. President Joe Biden banned Russian planes from U.S. air space along with warning Putin had “no idea what’s coming.”
Russia forces announced to have taken full control of Ukrainian city – Kherson, in the south, as fighting raged around the country.
Oil extended rallying breaking above $110 a barrel, ahead of OPEC+ meeting and after the International Energy Agency warned that global energy security is under threat following Russia’s invasion of Ukraine.
Traders will closely observe a response from OPEC+ on Wednesday to decide on April’s supply of crude oil. However, a modest increase is widely expected.
The WTI on Asian closing trading at $108.00 per barrel while Brent at $109.72 per barrel.
