Asian shares surged on Thursday, tracking Wall Street's gains as planned diplomatic talks between Russia and Ukraine buoyed sentiment, although analysts warned the rally could be susceptible to a sharp reversal as risks remain.
"Comments out of Russia and Ukraine are leading to some hope that compromise is possible," said Ray Attrill, Head of FX Strategy at National Australia Bank in a note on Thursday.
Higher energy prices will reinforce expectations that the U.S. Federal Reserve will raise interest rates by 25 basis points at its policy meeting next week to tame runaway inflation.
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