Petrol prices of more than $7.00 per gallon are posted at a downtown Los Angeles gas station on Wednesday. (AFP photo)
Asian equities rallied Thursday following a strong bounce on Wall Street and a breathtaking surge in Europe sparked by a plunge in oil prices and bargain-buying following a Ukraine-fuelled rout.
A glimmer of hope for peace talks provided some much-needed support to asset markets, which have been in the grip of extreme volatility in the two weeks since Russia invaded its neighbour, sparking a wave of sanctions against Moscow.
However, commentators urged caution in a time of massive uncertainty, with some warning that further losses for stocks were likely and crude will no doubt remain elevated for some time.
But for now, investors are enjoying a rare moment of calm, lapping up cheaper…
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