Asian shares fall after Malaysian Airlines crash

<p>Asian shares fell today after a Malaysia Airlines jet crashed.</p>

Asian shares fell today (July 18th) after a Malaysia Airlines jet carrying 298 people crashed in east Ukraine.

There were no signs of survivors at the scene of the crash near the village of Grabovo.

Investors rushed into defensive assets and a drop in Treasury bond yields put pressure on the dollar.

"US Treasury yields declined on heightened geopolitical woes and hurt dollar/yen, which has a high correlation with yields," Masafumi Yamamoto, a market strategist at Praevidentia Strategy in Tokyo, told Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent, while Japan's Nikkei stock average tumbled one per cent after dropping by as much as 1.7 per cent earlier in the session. 

Shares in Malaysia Airlines fell more than 11 per cent today. It is the second disaster the carrier has experienced this year.

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

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.