End of Prigozhin uprising supports stock markets in East Asia

Tokyo In view of the unexpectedly rapid calming of the situation in Russia after the failed uprising by the Wagner mercenary group, the losses on the Asian stock markets have been limited. The South Korean Kospi index was up almost half a percent on Monday afternoon (local time).

Singapore’s Straits Times Index is also trading higher. A part of the East Asian markets is therefore surprising on the upside after some market experts had predicted greater turbulence.

The quick and so far bloodless settlement of the uprising by Wagner boss Yevgeny Prigozhin has destabilized Russia less than initially feared. Russia expert Tatyana Stanovaya, senior fellow at the Carnegie Russia Eurasia Center, believes that President Vladimir Putin’s power was severely damaged by Prigozhin. “However, the situation would have been much worse if it had culminated in bloody chaos in the Moscow suburbs.”