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

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. ...