Asian shares bounce back

Asian stocks bounced back today from last week’s lows.


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By :  ,  Financial Analyst

Asian stocks bounced back today (August 11th) from last week's lows on news that geopolitical tensions eased in Ukraine.

The Nikkei rose 2.4 per cent to 15130.52, recovering from a three per cent fall on Friday, when Asian shares dropped to a two-month low due to investors' concerns that conflicts in Ukraine and the Middle East could hamper global growth.

US president Barack Obama authorised targeted strikes last week to protect the besieged Yazidi minority and US personnel in Iraq. Investors also focused on the situation in Ukraine, with reports Moscow amassed around 20,000 troops on the eastern border.

However, the mood improved later on Friday when trading in US stocks started as Russia announced it ended military exercises near Ukraine. 

The Shanghai Composite closed 1.4 per cent higher today at 2224.65, while Hong Kong's Hang Seng Index gained 1.3 per cent to 24646.02. Australia's S&P/ASX 200 rose by 0.4 per cent to 5457.00, while South Korea's added 0.4 per cent to 2039.37.

Learn about the Asian markets and CFD trading at City Index.

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