ASIA-PAC EQUITY WRAP: Asia stocks gained after lower oil prices and Russia-Ukraine optimism fuelled risk appetite

Analysis details (06:03)

Asia-Pac stocks traded with firm gains to track their global peers higher as an aggressive pullback in oil prices soothed global growth concerns and with some optimism ahead of Russia-Ukraine talks on Thursday after Ukrainian President Zelensky voiced a willingness for certain compromises. ASX 200 (+1.1%) was led higher again by strength in tech and financials with most industries buoyed aside from the commodity-related sectors following the recent cooling in underlying commodity prices. Nikkei 225 (+3.8%) surged with gains magnified by a weaker currency and the KOSPI (+1.7%) was also underpinned following yesterday’s election which was won by the opposition conservative candidate with President-elect Yoon preferring the economy to be led by the private sector and innovation but is seen to have a more hawkish stance on North Korea. Hang Seng (+0.7%) and Shanghai Comp. (+1.2%) conformed to the heightened risk environment in which the former attempted to reclaim the 21k level but with upside restricted by weakness in some developers and blue-chip energy stocks.

10 Mar 2022 - 06:00- EnergyResearch Sheet- Source: Newsquawk