Most markets in the Asia-Pacific region were trading with losses as the possibility of a protracted tension in the Middle East sparked fears of a weak economic outlook.
Japan’s Nikkei 225 and South Korea’s Kospi were trading 1.13 per cent and 1.23 per cent down, respectively. Meanwhile, Australia’s S&P ASX 200 rose 0.25 per cent.
Overnight, the US share indices ended lower as risk-off sentiment prevailed. The S&P 500 and the Dow Jones Industrial Average ended 1.52 per cent and 1.56 per cent down, respectively.
Brent crude was trading above $100 per barrel despite erasing gains after the US authorised the temporary purchase of Russian oil stranded at sea.
Brent’s May future contract was trading 0.82 per cent down at $100.48 on the Intercontinental Exchange. Earlier, it rose 0.51 per cent to $101.78 per barrel.
Gold futures continued to decline as traders fear the war may increase price pressure, which weighed on the US Federal Reserve’s rate outlook. The futures were trading 0.17 per cent down at $5,116.94.
IPO Today
Raajmarg Infra Investment Trust InvIT and Apsis Aerocom’s initial public offers will enter the final day of subscription on Friday. The issues were subscribed 0.36 times and 15.60 times, respectively, on the second day.