Welcome to Markets Desk, here's what's moving markets right now.
Russia's financial system is showing serious cracks, and the pressure is mounting. In the first half of August alone, Russians pulled three point four billion dollars from domestic banks, following seven point three billion in withdrawals in July. Analysts describe it as a slow-motion bank run, driven by fears the Kremlin may seize private deposits to fund its war effort. The ruble is under strain and central bank credibility is eroding fast.
Turning to Asia, Japan's equity market is set for a rebound after a bruising stretch that saw the Nikkei shed nearly three thousand nine hundred points, or roughly six percent, over just two sessions. The index is holding just above sixty-six thousand and ten points, and traders are anticipating buyers stepping back in at the open. Sentiment remains fragile, but the bounce looks technically supported.
Meanwhile in South Korea, the KOSPI is riding genuine momentum, posting gains in two straight sessions totaling more than four hundred forty points, or six and a half percent. The index is consolidating just above six thousand nine hundred ten, and the setup heading into Monday suggests bulls still have the upper hand as regional risk appetite shows signs of stabilizing.
That's the tape. Markets Desk, signing off the floor.
