Asian shares higher ahead of Russia-Ukraine peace talks | Fintech Zoom – World Finance

Trading has remained choppy as investors try to gauge what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out.

Ukrainian forces claimed to have retaken a Kyiv suburb and an eastern town from the Russians in what is becoming a back-and-forth stalemate on the ground, while negotiators began assembling in Turkey for another round of talks Tuesday aimed at stopping the fighting.

Ukrainian President Volodymyr Zelenskyy said his country could declare neutrality to secure peace, but would prioritize protecting its sovereignty and territory.

Tokyo’s Nikkei 225 rose 0.6% to 28,110.73 and the Kospi in Seoul added 0.3% to 2,737.05. The Hang Seng in Hong Kong picked up 0.6% to 21,826.68, while the Shanghai Composite index lost 0.2% to 3,207.64 as the city entered a second day of a lockdown to combat a COVID-19 outbreak.

Australia’s S&P/ASX 200 surged 0.7% to 7,467.20. Its government plans to increase spending on national security while reducing costs for households, in part by reducing a tax on gasoline, Treasurer Josh Frydenberg said before presenting a budget proposal Tuesday.

Weaker oil prices helped push shares higher, said Yeap Jun Rong of IG.

“China, Japan, South Korea and Taiwan are major oil importers, hence lower oil prices may be deemed as positive for their economies,” Yeap said in a commentary.

U.S. crude oil lost 71 cents to $105.21 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, it slumped 7% and Brent crude, the international…