HONG KONG, Mar 29 (AFP): Equities mostly rose Tuesday in Asia on optimism over talks between Ukraine and Russia aimed at ending their month-long war, while there was further support from another drop in oil prices.
While the conflict in eastern Europe continues to rage, traders have grown increasingly confident about shifting back into stocks as diplomats work to find a peaceful solution.
Analysts also said markets have been helped by the lack of any alternative investment for quality returns.
Focus is now on Istanbul, where officials from the warring parties are due to hold their first face-to-face talks since March 10, with Ukraine President Volodymyr Zelensky saying they must bring peace "without delay".
Vladimir Putin has called Moscow's military goals "demilitarisation and denazification of Ukraine", as well as the imposition of neutral status.
Neutrality and the future status of Donbas-which has been occupied by Russia-could be on the agenda, with Zelensky admitting "it is impossible to liberate all territory by force, that would mean World War III, I fully understand and realise that".
But he stressed: "Ukraine's sovereignty and territorial integrity are beyond doubt. Effective security guarantees for our state are mandatory."
Hopes that a way out could be found were lifted last week when senior Russian general Sergei Rudskoi appeared to scale back Moscow's campaign by saying the first phase of the war was over and the "main goal" was now on controlling Donbas.
All three main indexes on Wall Street posted healthy gains, and Asia followed suit.
Tokyo, Hong Kong, Sydney, Seoul, Mumbai, Taipei, Bangkok and Wellington rose, though Shanghai, Singapore, Manila and Jakarta dipped.
Asian markets extend gains
FE Team | Published: March 29, 2022 23:25:02
Asian markets extend gains
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