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Market Review

US:

Wall Street's major indexes ended sharply lower on Wednesday, extending their recent rout as Ukraine declared a state of emergency and the U.S. State Department said a Russian invasion of Ukraine remains potentially imminent.

Asia:

Asia-Pacific shares fell on Thursday as investors continue to watch the escalating situation between Russia and Ukraine.

India:

Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in red for the fifth staright session on Tuesday, on the back of geopolitical tensions. BSE Sensex fell 383 points or 0.7 per cent to 57,300, while Nifty 50 index lost 114 points or 0.7 per cent to finish at 17,092. Market is expected to open gap up and likely to witness positive move during the day

Global Economy:

Australian business investment bounced modestly last quarter as demand recovered from pandemic lockdowns and miners benefited from high resource prices, while future spending plans were again marked higher. Capital expenditure rose a real 1.1% in the December quarter to A$33.3 billion ($24.03 billion), though that missed market forecasts of a 2.6% increase.

U.S. mortgage applications plunged to their lowest level in more than two years last week as rising mortgage rates dampened demand for loans to purchase homes and refinancing activity. The Market Composite Index, a measure of mortgage loan application volume, tumbled 13.1% on a seasonally adjusted basis to 466.4 from the prior week. That was the lowest level since December 2019

Poland's registered unemployment rate rose to 5.5% in January compared with 5.4% in December, below analysts' expectations of 5.6%. The statistics office also said that the number of registered unemployed was 927,100 last month. Separately, the unemployment rate rose to 2.9% in the fourth quarter.

Commodities:

Oil slipped after market hours on news that the U.S. is considering a potential release from its oil reserves in coordination with allies. Gold traded near its highest level in more than eight months as tensions around Ukraine intensified, boosting demand for the haven asset.

Currency:

The euro weakened and safe-haven currencies including the U.S. dollar were in demand on Thursday amid intensifying fears of an imminent full-scale Russian invasion of Ukraine.

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