Asian shares slump as Ukraine tensions flare

Asian shares slumped on Friday, pulling back from a more than six-year high touched this week, after flaring Ukraine tensions spoiled investor risk appetite. But spreadbetters predicted a steadier open ahead in Europe, suggesting the fears were receding. They expected Britain's 100 .FTSE to open nearly flat; Germany's DAX to open 13 to 16 points higher, or up 0.2 per cent; and France's CAC 40 4 to 7 points higher, or up 0.2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2 per cent, pulling away from Thursday's high of 515.13, its highest since early 2008. It was on track for a weekly drop but still poised for a gain of around 0.3 per cent in August. Japan's Nikkei stock average shed 0.2 per cent after a spate of weak Japan data. It was also down for the week, bringing its monthly loss to about 1.3 per cent. On top of geopolitical concerns, bond yields worldwide have come under pressure this week on speculation that the European Central Bank would unveil new stimulus steps as soon as next week, to stave off deflation in the euro zone, according to Reuters.