STOCKHOLM (Reuters) -Sweden's H&M, the world's second-biggest fashion retailer, reported on Tuesday an increase in December through February sales that was in line with expectations.

Chinese businesses from automaker BYD to KFC operator Yum China say their operations have already been hit by the country's latest COVID-19 curbs, with more disruption expected as case numbers rise.

The impact of the Russia-Ukraine conflict on the Philippine economy is expected to be temporary, Economic Planning Secretary Karl Chua told a media briefing on Tuesday.

Wild swings in asset prices following Russia's invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities in recent weeks could hit other markets.

The yen remained under pressure on Tuesday and the euro edged higher as talks between Russian and Ukrainian negotiators continued, but moves were more muted than in recent days as the market's attention turned to this week's Fed meeting.

The Russian Finance Ministry said on Monday it has sent an order to a correspondent bank for the payment of coupons on eurobonds amounting to $117.2 million, a signal to markets waiting to see whether Russia will default on its sovereign debt.