Nervy markets flip risk-averse switch on

LAST year may have ended positively on optimism over a global economic recovery, but investors have since tossed the euphoria aside, with confidence in markets having been shaken since last Friday on rising US-Iran tensions.

CMC Markets market analyst Margaret Yang said: "As a result of the sudden surge in geopolitical tensions, safe havens and crude oil regained traders' favour in a risk-averse environment."

Gold is at a six-year high, the yen hit a three-month high, and Brent was over US$70 per barrel.