Home News Shanghai Composite opens nearly flat, markets focus on latest developments in Russia-Ukraine crisis | Reuters

Shanghai Composite opens nearly flat, markets focus on latest developments in Russia-Ukraine crisis | Reuters

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Shanghai Composite opens nearly flat, markets focus on latest developments in Russia-Ukraine crisis | Reuters

SHANGHAI, Feb 23 (Reuters) – China‘s Shanghai Composite Index opened nearly flat on Wednesday, with investors cautious as markets focused on the latest developments in the Russia-Ukraine crisis.

Shanghai Composite Index.SSECOpened nearly flat at 3,458.51, with the CSI 300 index at 3,458.51.CSI300rose 0.2%.

After Moscow recognized the independence of Ukraine’s two separatist regions, Russian President Vladimir Putin said on Tuesday that the Minsk peace deal on Ukraine no longer exists and that there is nothing left to be fulfilled, blaming Ukraine, not Russia, for tearing it up. The White House said a summit between Biden and Putin was “certainly not planned” at the moment and that Russia would need to de-escalate the situation before a Biden-Putin summit could take place.

Alibaba Hong Kong Stocks9988.HKIt opened down 1.3 percent on news that Chinese regulators have asked state-owned companies to inspect investments in Ant Group.

In external markets, major U.S. stock indexes fell on Tuesday, with the S&P 500 confirming a correction, as the Ukraine-Russia crisis rattled investors after Russian President Vladimir Putin recognized the independence of two separate Ukrainian regions and ordered the deployment of troops to the region. European stocks closed flat on Tuesday.

The U.S. Federal Reserve can cut economic support without hurting workers’ job prospects, Atlanta Fed President Bostic said.

Minutes of the U.S. Federal Reserve’s meeting showed that the three regional Feds supported a 25 basis point increase in the discount rate in January. (over)

Posted by Cui Zhuzhu; Reviewed by Lin Gaoli

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