Asian Stocks Fall as Ukraine Tensions Weigh; Yen Gains

Asia Market Overview

Asian equities retreated on Friday, weighed down by heightened risk aversion stemming from escalating tensions between the US and Ukraine. The yen appreciated amidst the uncertainty.

Key Market Developments

* MSCI Asia Ex-Japan Index dropped 0.8%.
* Hang Seng Index plunged 1.7%.
* Chinese technology stocks (HSTECH) tumbled over 2% despite a recent rally.

Geopolitical Concerns

* Tensions flared after President Trump denounced Ukrainian President Zelenskiy and excluded Ukraine from talks with Russia.
* Investors remain cautious amid heightened geopolitical uncertainty.

US Market Outlook

* US equity index futures declined after the S&P 500 closed with a modest gain.
* Treasuries advanced in Asian trading.
* Gold remained elevated near record highs.

Central Bank Actions

* Bank of Japan board member indicated further rate hikes may be on the horizon.
* Fed minutes revealed policymakers' readiness to hold interest rates steady amid inflation and economic uncertainty.
* Fed officials considered pausing or slowing quantitative tightening due to the government's debt ceiling concerns.

Earnings Focus

* Alibaba Group faces a crucial earnings presentation on Thursday after a recent surge in its share price.

Other Market Movements

* Oil prices steadied after gaining on concerns over Russian and Kazakhstan supply disruptions.
* Bitcoin and Ethereum edged up.
* Euro Stoxx 50 futures remained largely unchanged.
* The Bloomberg Dollar Spot Index showed little movement.
* The Japanese yen strengthened against the dollar.