Asian shares down on Ukraine and Iraq fears

<p>Asian shares were down on growing fears about the situation in Ukraine and the Middle East.</p>

Asian shares fell to a two-month low today (August 8th) due to investors' concerns that conflicts in Ukraine and the Middle East could hamper global growth.

The situation in Iraq - currently struggling against a sweeping advance by Islamist militants – has led US president BarackObama to authorise targeted strikes to protect the besieged Yazidi minority and US personnel in Iraq.

Tensions are also high in Ukraine, with reports Moscow has amassed around 20,000 troops on the eastern border, and Vladimir Putin's announcement that it will respond to Western sanctions by banning certain imports such as US poultry and European fruits and vegetables.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9 per cent, while Japan's Nikkei stock average plunged three per cent.

South Korea's Kospi lost 1.1 per cent and Australia's ASX200 closed 1.3 per cent lower. Singapore's Straits Times Index lost 0.8 per cent and India's Sensex was down 1.1 per cent. 

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

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