World shares, Russian assets bounce back after heavy Ukraine hit

World shares and hard-hit Russian assets rebounded on Tuesday after Russia's president ordered troops in military exercises to return to base in what was seen as a dampening down of immediate tensions in the East-West crisis over Ukraine. Russian stocks and the ruble gained while gold and the safe-haven Japanese yen fell sharply after President Vladimir Putin ordered back troops that took part in military exercises in central and western Russia. There was no word, however, on Russian forces that have effectively occupied much of Crimea, and financial assets failed to retrace the entirety of the sharp moves seen globally on Monday. "There's a perception that maybe we're going to see a ratcheting down of tensions and there's a possibility that President Putin may be open to dialogue... that's why markets are bouncing," Michael Hewson, chief market analyst at CMC Markets UK, said.

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