Caixin
Feb 22, 2022 02:45 PM
WORLD

Ukraine Conflict, China Tech Woes Extend Pain to Asia Stocks

Pudong's Lujiazui Financial District in Shanghai on Feb. 7. Photo: Bloomberg
Pudong's Lujiazui Financial District in Shanghai on Feb. 7. Photo: Bloomberg

(Bloomberg) — Asian equities slid for a third day as escalating tensions over Ukraine and fresh regulatory scrutiny on China’s tech sector frazzled investors’ nerves.

The MSCI Asia Pacific Index tumbled as much as 2.1% to a three-week low, after Russian President Vladimir Putin recognized two self-proclaimed separatist republics in eastern Ukraine and ordered to send what he called “peacekeeping forces” to the regions. The U.S. administration has warned Russia’s troop buildup near Ukraine signals a possible invasion, something the Kremlin has repeatedly denied.

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