Asian markets strong despite Crimea vote, threat of sanctions on Russia

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, March 17, 2014, 11:53 [IST]

Asian markets were trading strong despite threats of sanctions against Russia, after Crimea voted for quitting Ukraine and annexation by Russia.

Singapore's Strait Times was trading higher by 0.5 per cent, while the Shanghai Composite was trading with gains of 0.66 per cent and the Taiwan Weighted was up 0.14 per cent.

The only market that was trading with losses was the Japanese Nikkei, which was set to close at a one month low.

European markets were slated to open marginally lower in trade.

Meanwhile, Crimea's leaders declared a 96 per cent vote in favour of Crimea leaving Ukraine and joining Russia.

The West on the other hand were preparing sanctions against Russia in a move that could have repercussions.

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