17th March 2014
Stock markets in Asia have generally declined today (March 17th), with investors continuing to assess developments in Ukraine, after a referendum in Crimea showed voters wish to join Russia.
US president Barack Obama insisted his country rejects the result and is ready to impose sanctions on Moscow, heightening tensions between the West and Russia. More than 90 per cent of Crimean voters chose to break with Ukraine.
Amid the geopolitical uncertainty, the yen strengthened versus the dollar in forex trading markets, sending the Nikkei 225 index lower. Tokyo's benchmark index closed down by 0.35 per cent at 14,277.67 points, while Australia's ASX/200 slumped to a one-month low as traders lost faith in riskier assets.
In Hong Kong, the Hang Seng shed 0.25 per cent, but shares in mainland China climbed after the People's Bank of China announced it is to widen the yuan's daily trading band. The Shanghai Composite ended the session up by 0.96 per cent.
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