Asian stock markets rebounded Wednesday after Wall Street slid on anxiety over President Vladimir Putin's authorization to send Russian soldiers into eastern Ukraine.
Shanghai, Hong Kong, South Korea and Australia advanced. Oil prices edged higher on concern about possible disruption to Russian supplies. Japanese markets were closed for a holiday.sanctions imposed by Washington, Britain and the 27-nation European Union“Current U.S. sanctions on Russia are less-than-feared by the market,” said Anderson Alves of ActivTrades in a report.
On Wednesday, the Shanghai Composite Index rose 0.4% to 3,469.57 and the Hang Seng in Hong Kong gained 0.6% to 23,657.49.New Zealand and Indonesia gained. Singapore and Bangkok declined. U.S. stocks were already off their early Jan. 3 peak due to uncertainty about the impact of the Federal Reserve's decision to withdraw ultra-low interest rates and other economic stimulus.
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