Hang Seng slumps 3% over COVID lockdown worries, oil falls as Russian attacks in Ukraine intensify

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Hang Seng slumps 3% over COVID lockdown worries, oil falls as Russian attacks in Ukraine intensify
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Stocks were mixed in Asia and oil prices were flat on Monday as uncertainty over the war in Ukraine and persistently high inflation kept investors guessing...

BANGKOK — Stocks were mixed in Asia and oil prices fell Monday as uncertainty over the war in Ukraine and persistently high inflation kept investors guessing about what lies ahead.Ukrainian President Volodymyr Zelenskyy vowed to keep negotiating... BANGKOK — Stocks were mixed in Asia and oil prices fell Monday as uncertainty over the war in Ukraine and persistently high inflation kept investors guessing about what lies ahead.

Hong Kong’s Hang Seng index HSI lost 3.8% to 19,779.91 and the Shanghai Composite index SHCOMP slipped 1.3% to 3,266.73. Wang Sheng, head of the investment banking division at China International Capital Corp, said in an opinion piece that China and the U.S. should be able to strike a deal. World markets have been rocked by dramatic reversals as investors struggle to guess how Russia’s invasion of Ukraine will affect prices of oil, wheat and other commodities produced in the region.

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