Markets remain tentative after the sudden risk-off move seen in the late-Asian session, as contradictory headlines continue to flood the wires amid intensifying Russia-Ukraine conflict.

Organization for Security and Co-operation (OSCE) in Europe has recorded multiple shelling incidents along the line of contact in the East Ukraine in the early hours of Thursday, Reuters reports, citing a diplomatic source on the matter.

OSCE has record use of artillery, based on reports from both sides, the source added.

Meanwhile, The Ukraine military is reportedly saying that Russian-occupying forces fired on village in Luhansk region.

A US satellite image company, Maxar Technologies, showed that Russia has pulled back some equipment from near Ukraine.

Market reaction

Markets are seeing a fresh risk-off wave once again after the Russia-Ukraine crisis resurface.

S&P 500 futures are once again losing 0.50% on the day after recovering entire losses. Gold price shot higher to fresh three-month highs of $1,890 while AUD/USD Is back under 0.7200.