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European stocks were mixed ahead of new sanctions

by Carl Steward
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Stocks and sanctionsEuropean stocks were mixed ahead of new sanctions

The war in Ukraine continues to influence European stocks. Global powers are preparing more sanctions against Russia following allegations of civilian massacres in Ukrainian towns.

The pan-European Stoxx 600 rose 0.3% by late morning. Health care stocks gained 1.2%, while industrials dropped 0.5%.

Ukraine’s top prosecutor found 410 bodies in towns recaptured from retreating Russian forces around Kyiv as part of an investigation into possible war crimes. The country’s leader Volodymyr Zelenskyy accused Russia of genocide. 

The European Union plans to impose fresh sanctions against Russia in the wake of the newly reported atrocities. 

Stocks in Asia-Pacific 

On Monday, Hong Kong’s Hang Seng index led gains in Asia-Pacific markets as Chinese tech stocks jumped in Hong Kong.

The Hang Seng index added 2.1% to finish its trading day at 22,502.32 as shares of Tencent gained 2.96%. Other Chinese tech stocks also demonstrated their capabilities on Monday. Alibaba gained 3.65%, while NetEase jumped 6.62%. 

Investors keep an eye on numerous factors. Investor sentiment may have been buoyed by a recent signal by Chinese officials of progress toward resolving an audit dispute. Last week, the China Securities Regulatory Commission convened a meeting with some accounting firms. The commission told them to consider preparing for joint inspections.

In the meantime, Hong Kong’s chief executive Carrie Lam made an interesting announcement. The city’s current chief executive will not be pursuing a second term in office, she said during a press conference on Monday.

Markets in mainland China are not working until Wednesday.

In Japan, the Nikkei 225 advanced 0.25% to close at 27,736.47. The Topix index gained 0.48% to 1,953.63. 

South Korea’s Kospi added 0.66% to end its trading day at 2,757.90. In Australia, the S&P/ASX 200 gained 0.27% to close at 7,513.70.

In Sri Lanka, the S&P SL20 index dropped 1.48% to finish its trading day at 2,788.97. The index fell as the country struggled to cope with its problems. 

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