Yahoo Finance ASX to climb as Australia to tap into emergency oil supplies
ASX: Australian shares are expected to rise following increases on Wall Street.
The Australian market had a fourth consecutive day of gains yesterday as energy and materials shares rose by four and three per cent respectively.
Also yesterday, national accounts showed the economy had surged by a strong 3.4 per cent in the December quarter.
Wall Street: US stocks rose overnight to recover some steep losses from earlier this week.
As well as the jitters over Russia's war in Ukraine, investors also monitored fresh remarks from Federal Reserve chair Jerome Powell, who said the central bank remained on track to raise interest rates later this month.
BTC: Bitcoin dropped overnight, falling to a low of $US43,562.
Oil release: Australia will join 30 countries in releasing a combined 60 million oil barrels from reserves to stabilise prices after Russia's invasion of Ukraine caused a spike in prices.
UN: The UN General Assembly has condemned Russia's attack on Ukraine by a large majority and called on Russia to end its aggression.
A total of 141 UN member states voted in favour, while five voted against and 35 countries abstained.
Reunited: The country has become one again with the Western Australia border finally opening to the rest of the nation.
Severing ties: Australian miners and superannuation funds are starting to cut their Russian ties.
Russian businessman Maxim Mayorets has agreed to step down from the board of Falcon Oil and Gas, which is a partner in Origin Energy's Beetaloo Basin gas project in the Northern Territory.
Australia's sovereign Future Fund and the country's second-largest superannuation fund Aware Super have announced they will dump Russian assets.
Taiwan: Maintaining peace and stability across the Taiwan Strait is "not just a US interest, but also a global one," former chairman of the US Joint Chiefs of Staff Mike Mullen said.
His visit to Taiwan comes amid the backdrop of Russia's war against Ukraine.
Kicking goals: Roman Abramovich has confirmed his decision to sell Chelsea amid the continued invasion of Ukraine.
The Russian-Israeli billionaire, who's owned the Blues since 2003 - during which time the Stamford Bridge club has won 19 major trophies - has promised to donate money from the sale to help victims of the war.
- With AAP
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