Asian shares rise, eyeing Ukraine, higher energy costs
ABC News
Asian shares are higher as investors eye the war in Ukraine and inflationary risks including rising energy costs
TOKYO -- Asian shares were higher Tuesday as investors eyed the war in Ukraine and inflationary risks including rising energy costs.
Benchmarks rose in Japan, South Korea, Australia and China.
The Russian war on Ukraine and Western sanctions on Russia are adding to worries over disruptions to energy supplies for Europe and surging prices that might hinder progress toward economic recoveries from the pandemic.
“With no progress on peace talks, reports are circulating that the EU is setting the table for a Russian oil embargo. Higher energy prices will hugely harm the EU economy,” said Stephen Innes, managing partner at SPI Asset Management.
