Reporters reported that Asian stock markets open negative territory Following the direction of the Dow Jones Industrial Average, the New York Stock Exchange closed down nearly 600 points on Tuesday (March 1, 2022), pressured by tensions in Ukraine. including the economic impact after the great powers agreed to impose sanctions on Russia while the price of crude oil in the world market continues to soar
by NIKKEI index 225 The Japanese stock market opened today at 26,532.20 points, down 312.52 points or -1.16%, HSI Index The Hong Kong stock market opened today at 22,568.36, down 193.35, or -0.85%, and the SSE Composite index. The Chinese stock market opened today at 3,478.29 points, down 10.54 points or -0.30%.
Investors are still concerned about the unrest in Ukraine. Even before, there were talks between the Russian and Ukrainian delegations to resolve the conflict. by Reuters reported that Russia has warned Ukrainian citizens to evacuate their homes. Before launching rockets into Kharkiv, Ukraine’s second largest city. Meanwhile, Russian Defense Minister Sergei Shoigu said: Russia will continue to use special military operations against Ukraine. until it achieves its main goal of protecting itself from Western threats.
Canada also announced a suspension of oil imports from Russia. The United States and the West have announced that some Russian banks will be cut from the SWIFT system. and prohibits Americans from doing business with the Russian Central Bank.
Several private energy companies have also imposed sanctions on Russia. This includes BP and Shell, which have announced they will withdraw from operations in Russia. Meanwhile, Total Energy has announced that it will not invest more in Russia.
For the above situation, the WTI crude oil contract will be delivered in April. It rose $7.69, or 8%, at $103.41 a barrel. This was the highest close since July 22, 2014 and the largest single-day percentage jump since November. 2020 while the Brent crude oil contract (BRENT) will deliver in May. It rose $7, or 7.2 percent, at $104.97 a barrel. This is the highest closing level since Aug. 8, 2014.
Investors are still keeping an eye on Federal Reserve Chairman Jerome Powell, who is due to deliver his semi-annual statement on monetary policy and economic conditions to the US House Monetary Services Committee on March 2. c. and will make a statement to the Senate Banking Committee on March 3. Both statements will begin at 10:00 a.m. US time or 10:00 p.m. US time.
For regional economic data to be followed today are retail sales for the month of January. of South Korea and Australia’s Gross Domestic Product (GDP) Q4/21
