4th March 2014
Asian markets have turned higher today (March 4th) due to optimism that a peaceful solution may be reached in Ukraine.
Russian leader Vladimir Putin has ordered troops carrying out exercises near the Ukrainian border in western Russia to return to base, easing fears that an outbreak of military action was imminent.
The Nikkei closed up by 0.47 per cent as a result, compensating for earlier losses. Meanwhile, the Hang Seng index rose 0.70 per cent, with investors hopeful a peaceful conclusion to events in Ukraine will soon be agreed.
Demand for the safe haven yen has fallen as a result of this optimistic sentiment. The Japanese currency was down 0.43 per cent on the dollar as of 11:15 GMT.
It has also fallen against the pound, dropping 0.52 per cent to £0.5883 per 100 yen. Against the euro it is down 0.64 per cent at €0.7131.
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