Asian markets see gains as threat of war recedes

 
Guy Bentley
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Asian shares are rising modestly after remarks by President Putin eased fears of an imminent military strike, saying force would be used as a last resort, adding: “It will be legitimate, fully corresponding to the norms of international law.”

As the threat of war in Ukraine receded, credit risk dipped to the lowest point this year. Markets are now returning a large part of their focus to Thursday's European Central Bank monetary policy meeting and Friday's US nonfarm payrolls report.

The Nikkei has so far made gains of 1.4 per cent while the Hong Kong Hang Seng Index is up 0.2 per cent. South Korea'a Kospi is enjoying a rise of 0.9 per cent while the Tokyo Stock Exchange Tokyo Price Index is also up 0.9 per cent. However, the Shanghai Stock Exchange Composite Index is down 0.1 per cent.