Asia-Pacific markets rose on Tuesday as investors navigated the changing situation in Russia and Ukraine.
In Japan, the Nikkei 225 index zoomed 317.9 points, or 1.2%, to 26,844.72.
The Japanese yen traded at 115.01, weakening slightly from 114.99,
In Hong Kong, the Hang Seng index gained 48.69 points, or 0.2%, to 22,761.71.
The U.S. and its allies have announced heavy sanctions on Moscow following Russia’s invasion of Ukraine last week.
Canada became the first Western nation to specifically target Russian energy when it said it will ban Russian crude oil imports. The White House said it has not ruled out restrictions on U.S. purchases of oil and gas, but has not sanctioned the industry so far.
Russia’s central bank on Monday more than doubled its key interest rate as the ruble plunged.
In Australia, the Reserve Bank of Australia kept rates on hold at 0.1% at its meeting, in line with expectations from a Reuters poll. It said the war in Ukraine is a “major new source of uncertainty,” and that it is monitoring how various factors affect inflation in Australia.
The Australian dollar changed hands at $0.7287.
CHINA
In China, the CSI 300 climbed 38.04 points, or 0.8%, to 4,619.69.
On the earnings front, Chinese tech giant Baidu is expected to announce its fourth-quarter results late in Asia.
China’s official manufacturing Purchasing Managers’ Index for February was 50.2, beating analyst expectations of a reading of 49.9 in a Reuters poll. The February figure is slightly higher than January’s 50.1.
A reading above 50 represents expansion, and a figure below that level signifies contraction. PMI readings are sequential and represent month-on-month expansion or contraction.
The private PMI survey also showed growth in China’s factory activity.
In other markets
Korean markets were shuttered for holiday.
In Singapore, the Straits Times was 36.39 points, or 1.1%, to the good at 3,278.63.
In Taiwan, the Taiex index popped 246.07 points, or 1.4%, to 17,898.25.
In New Zealand, the NZX 50 jumped 220.15, or 1.8%, to 12,197.92.
In Australia, the ASX 200 tacked on 47.42 points, or 0.7%, to 7,096.55.
