Asian Markets Have Mixed Session After Crimea Vote

Asian shares had a mixed trading session on Monday, with the vote in Crimea backing a union with Russia failing to have a major impact.

Japan’s benchmark Nikkei 225 closed down 0.35% at 14,277.67.

Hong Kong’s Hang Seng index fell 0.3% while, the Shanghai Composite Index closed up nearly 1%.

“The market has almost entirely brushed [Crimea] off because it was expected,” said Invast Financial Services’s Peter Esho.

Global markets fell last week as investors worried about the Ukraine crisis and China’s economy.

Some 95.5% of voters in Crimea – a region of Ukraine near the Black Sea – have supported joining Russia, officials say, after half the votes have been counted in a disputed vote.

Both the European Union and the US have condemned the referendum as illegal and many Crimeans loyal to Kiev boycotted the vote.

Crimea’s leader has said he will apply to join Russia on Monday. Russia’s Vladimir Putin has said he will respect the Crimean people’s wishes.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza