Asian stocks mixed, oil falls as Russian attacks intensify
BANGKOK (AP) — Stocks were mixed in Asia and oil prices fell Monday as uncertainty over the war in Ukraine and persistently high inflation kept investors guessing about what lies ahead.
Tokyo and Sydney advanced while Hong Kong, Seoul and Shanghai declined. U.S. futures were higher.
Ukrainian President Volodymyr Zelenskyy vowed to keep negotiating with Russia, as Russian forced bombarded a military training base near the Polish border, killing nine and wounding dozens of people. Talks aimed at reaching a cease-fire failed again on Saturday,
Russia's widening of its offensive to the western part of Ukraine comes amid warnings over the widening impact from the conflict. Moody's Investor Service said it was reviewing its credit ratings for both countries in view of rising security, economic and financial risks.
Spreading outbreaks of coronavirus in China have added to uncertainties, with authorities ordering a lockdown in the technology and manufacturing hub of Shenzhen, near Hong Kong, that could worsen supply chain disruptions.
Hong Kong's Hang Seng index lost 3.8% to 19,779.91 and the Shanghai Composite index slipped 1.3% to 3,266.73.
Chinese shares have also come under selling pressure due to the threat of de-listings of major Chinese companies on U.S. stock exchanges. A report in the state-run newspaper Economic Daily said Monday that regulators are negotiating to resolve a dispute over auditing rules.
The Securities and Exchange Commission has moved to require that U.S.-listed foreign stocks disclose their ownership structures and audit reports. That has come on top of technology-related sanctions against some companies.
Wang Sheng, head of the investment banking division at China International Capital Corp, said in an opinion piece that China and the U.S. should...