Investing.com - Asian shares were mixed Tuesday as events in the Ukraine weighed on sentiment as oil prices remained elevated and concerns over supplies spooked investors, though some bourses staged mild rebounds after falling on Monday.
Hong Kong's Hang Seng Index rose 0.4%, partially reversing a 1.5% drop in the previous session and Singapore's Straits Times Index gained 0.3% and Australia's S&P/ASX 200 added 0.3% as the central bank kept its cash rate at a record low 2.5%.
But South Korea's Kospi slipped 0.4% and the Shanghai Composite Index lost 0.8% with coal companies in focus after Shenhua Group cut prices again, taking other miners such as Kailuan Energy Chemical, which lost 2.4% and Yanzhou Coal Mining, which was 2.2% lower.
A tense standoff in the Crimean peninsula between Russian and Ukranian forces is the latest crisis to hurt sentiment this year, and the performance of global markets overnight was broadly negative with stocks in both the U.S. and Europe dropping on Monday. Russia was hit the worst, as the Micex index plunged 11% and the ruble touched a record low against the dollar.
In China, property developer China Vanke Co. jumped after it said it had received regulatory approval to convert its Shenzhen-listed, dollar-denominated B shares into Hong Kong-listed H shares. The firm's B shares were 10% higher, while its A shares rose 3.2%.
At the close of U.S. trading, the Dow Jones Industrial Average fell 0.94%, the S&P 500 index fell 0.74%, while the Nasdaq Composite index fell 0.72%.
European indices, meanwhile, finished lower overnight.
After the close of European trade, the EURO STOXX 50 fell 2.94%, France's CAC 40 fell 2.66%, while Germany's DAX 30 fell 3.44%. Meanwhile, in the U.K. the FTSE 100 fell 1.49%.
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Asian stocks mixed as Crimea tension weighs on markets
Published 03/04/2014, 12:42 AM
Updated 03/04/2014, 12:43 AM
Asian stocks mixed as Crimea tension weighs on markets
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