Asian stocks rose on Thursday tracking the gains of Wall Street after planned diplomatic talks between Russia and Ukraine boosted sentiment.
The CSI300, HSI, KOSPI and TOPIX is rose sharply by 2.24%, 2.03%, 2.07% and 3.58% respectively. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.76%.
“Comments out of Russia and Ukraine are leading to some hope that compromise is possible,” said Ray Attrill, Head of FX Strategy at National Australia Bank in a note on Thursday.
Russia’s foreign minister Sergei Lavrov arrived in Turkey ahead of planned talks on Thursday with his Ukrainian counterpart Dmytro Kuleba for what will be the first meeting between the two since Russia invaded Ukraine two weeks ago.
Oil prices also regained some footing, having fallen more than 12% on the previous session as United Arab Emirates pledged to support hiking oil output to ease mayhem in energy markets. The U.S. WTI inched down trading at $107 while Brent is trading at $110.05.
