Asian stocks closed sharply lower on Monday (7), as oil prices soared in reaction to the latest developments in the Russian-Ukrainian war.
On Sunday, US Secretary of State Antony Blinken said Washington and its European allies are considering banning Russian oil and natural gas imports.
The statement helped Brent crude jump to nearly $140 a barrel overnight.
The Hang Seng index led losses in Asia on Monday, with a drop of 3.87% in Hong Kong, at 21,057.63 points, while the Japanese Nikkei index fell 2.94% in Tokyo, at 25,221.41 points.
The South Korean Kospi fell 2.29% in Seoul, at 2,651.31 points, and the Taiex was down 3.15% in Taiwan, at 17,178.59 points.
In mainland China, the Shanghai Composite was down 2.17% to 3,372.86 points, and the less comprehensive Shenzhen Composite was down 2.70% to 2,203.41 points.
In the background given the geopolitical scenario, the latest data on the Chinese trade balance exceeded expectations in the first two months of this year, but showed a significant deceleration compared to December.
Oceania
In Oceania, losses on the Australian stock exchange were more contained, as the oil jump boosted shares in the sector.
In any case, the S&P/ASX 200 index fell 1.02% in Sydney to 7,038.60 points.
*With information from Dow Jones Newswires
Source: CNN Brasil
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