Asian shares mixed after fresh Wall St losses


HONG KONG- Asia’s markets were mixed on Monday following another heavy sell-off on Wall Street while concerns over the crisis in Ukraine resurfaced.

Investors are also awaiting the release this week of first-quarter growth data from China, with analysts tipping a further slowdown in the world’s number two economy.

Tokyo ended 0.36 percent lower, giving up 49.89 points to 13,910.16, while Sydney shed 1.28 percent, or 69.7 points, to 5,358.9, marking its heaviest fall in four weeks. Seoul was flat, dipping 0.42 points to 1,997.02.

Hong Kong closed 0.15 percent higher, adding 35.16 points to 23,038.80 while Shanghai ended flat, edging up 1.00 point, to 2,131.54.

US shares continued their downward spiral Friday led by the technology sector, owing to fears big-name firms such as Facebook, Twitter and Netflix may be overpriced.

The Nasdaq sank 1.34 percent to its lowest close since February 3, the Dow tumbled 0.89 percent and the S&P 500 shed 0.95 percent.

Analysts said there was also some nervousness as the corporate reporting season gets under way.

Adding downward pressure on markets is the crisis over Ukraine after clashes erupted between government forces and pro-Moscow militias.

Russia and the West traded barbs Sunday at the United Nations, with the Kremlin accusing the pro-Western interim government in Kiev of fomenting violence.

Britain, France and the United States blame Russia as fears grow that it is planning to send troops in to the east of Ukraine, in a move similar to that which saw it take over Crimea last month.

SOURCE: AFP

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