Crimea vote weighs on markets as Asia suffers worst week since 2012

clock

Asian markets suffered their worst weekly loss since 2012 as the EU and US considered sanctions against Russia following a referendum on Crimea.

Crimea, which is under the control of pro-Russian forces, voted by a 95% majority to split from Ukraine and rejoin Russia. The unofficial referendum has been declared illegal by Western nations, which are considering whether to impose sanctions on Russia. The ongoing political instability hit Asian markets: the MSCI Asia Pacific shed 0.5%, extending losses of 3.5% last week, while the Hang Seng lost 0.4% and the Japanese Topix fell 1.3%. Friday had marked the end of the worst week for the FTSE 100 since June as investors became increasingly nervous ahead of the vote on Sunday. T...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

What two pizzas tell us about Bitcoin

What two pizzas tell us about Bitcoin

Laszlo Hanyecz really needed a slice...

Laith Khalaf
clock 19 December 2024 • 6 min read
Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Bank of England MPC meeting due on Thursday

Sorin Dojan
clock 18 December 2024 • 3 min read
Trump, tariffs and why UK companies can still appeal

Trump, tariffs and why UK companies can still appeal

Is a trade war inevitable?

Sheldon MacDonald
clock 11 December 2024 • 4 min read