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Asian shares mixed, Crimea vote ups tensions

Hong Kong - Asian markets were mixed on Monday on renewed concerns over Ukraine after Crimea voted to break away from the former Soviet republic and join Russia, leading the West to warn of further sanctions against Moscow.

Investors remain cautious following a sell-off last week fuelled by weak Chinese data, while eyes are on the Federal Reserve's policy meeting on Tuesday and Wednesday to see if it will announce any more stimulus cuts.

Tokyo slipped 0.20 percent and Hong Kong was 0.26 percent lower, Shanghai lost 0.17 percent and Sydney was off 0.21 percent, while Seoul was 0.14 percent higher.

Mumbai is closed for a public holiday.

Crimea voted overwhelmingly Sunday to join Russia, further fuelling tensions in the worst crisis between Moscow and the West since the Cold War.

While people in the predominantly Russian-speaking peninsula celebrated the result off the poll, Ukraine's new pro-European leaders and the West branded it "illegal".

The vote was organised after Russian forces seized de facto control of the region and pro-Moscow authorities took power in response to the ouster of Ukraine's pro-Kremlin leader Viktor Yanukovych in February.

US President Barack Obama told his Russian counterpart Vladimir Putin in a phonecall after the vote that a referendum that "occurred under duress of Russian military intervention, would never be recognised by the United States and the international community".

He said the US and its European allies were "prepared to impose additional costs on Russia for its actions".

SMBC Nikko Securities general manager of equities Hiroichi Nishi, said: "The Crimean vote was not totally unexpected, but does nothing to defuse geopolitical tension in the region, which will continue to bear on global equities markets for the time being."

The developments added to selling pressure in Asia following last week's losses in reaction to downbeat trade and industrial production figures out of Beijing.

The dollar edged up in early forex business, buying 101.44 yen compared with 101.36 yen in New York Friday afternoon.

The euro bought $1.3903 and 141.06 yen against $1.3906 and 140.73 yen.

On oil markets New York's main contract, West Texas Intermediate for April delivery, rose 24 cents to $99.13 in early Asian trade while Brent North Sea crude for May was at $108.36.

Gold fetched $1 381.90 an ounce at 02:20 GMT compared with $1 370.09 late on Friday.

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