Asian markets closed with some mild losses as investors remained jittery about the on going unsettled geopolitical situation. Yesterday’s plane crash has increased the turbulence in the relationship between Russia and the West. Investors are nervous around these situations and the general mood is bearish among traders. This has increased the demand for the risk havens and made the investors more risk averse. Gold has climbed more than $24 since this news hit the tapes, but this morning it has retraced from that level, but still remain above the crucial level of the $1300 mark.
Russian stock market and assets are under tremendous pressure as investors have started to price in the impacts of recent sanctions announced by the US and perhaps more tighter measures may be announced if it is confirmed that the missile rocket was fired by the rebels in Ukraine. Israel has also escalated its conflict by pressing hard on Gaza and started the ground operation. The ground operation was joined with massive air strikes and ordered Palestinian to clear out the area.
The Shanghai Composite was the best performing index during the session, which closed with a gain of 0.17%. However, the index is still up nearly 1.01% so far this month. The Nikkei 225 was the worst performer during the session and closed lower with the loss of 1.00%. The Hang Seng index also closed sharply lower with the loss of 0.48%.
Back in Europe, the markets have given up their gains and are trading lower during the early hours of trading. The DAX index is the worst performing index during the session and it is down by nearly 0.74%. The FTSE MIB, the FTSE 100 both are also trading lower with a loss of 0.16%, 0.54 respectively. Finally, the IBEX 35 and the CAC 40 are both trading lower with a loss of 0.58% and 0.30% respectively.
Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.