Commuters cycle past an electronic monitor displaying the closing figure of the Nikkei 225 Stock Average outside a securities firm in Tokyo. Japanese shares yesterday rose 0.36% to 14,462.52.

AFP/Tokyo

Asia’s markets were mixed in edgy trade yesterday after Russia ratcheted up tensions in Eastern Europe by formally absorbing Crimea from Ukraine.

Investors are also awaiting the end of the Federal Reserve’s latest policy meeting, hoping for some guidance from its new head Janet Yellen on her plans for interest rates.

Tokyo rose 0.36%, or 51.25 points, to end at 14,462.52 and Sydney added 0.21%, or 11 points, to 5,355.6.

But Seoul lost 0.13%, or 2.53 points, to close at 1,937.68 and Shanghai finished 0.17% lower, giving up 3.46 points to 2,021.73.

Hong Kong ended virtually flat, edging down 14.81 points to 21,568.69.

President Vladimir Putin signed a treaty taking Crimea into Russia’s fold following a weekend referendum which Western leaders slammed as illegal.

The move comes less than three weeks after Russian troops seized control of the strategic peninsula in response to the ousting of Ukraine’s pro-Moscow government.

Kiev’s new leaders warned the showdown had entered a “military stage” after soldiers were killed on both sides following a shootout in Crimea.

On currency markets the dollar traded at 101.61 yen against 101.42 yen in New York Tuesday afternoon.

The euro bought $1.3924 and 141.49 yen compared with $1.3932 and 141.29 yen.

The Japanese currency hardly moved after official data showed Japan’s trade deficit expanded 3.5% year-on-year to ¥800.3bn ($7.9bn) in February.

It was the 20th straight shortfall but well down from a record deficit in January.  The median forecast by economists was for a smaller deficit of 595bn yen, according to a poll by the leading Nikkei business daily.

Oil prices dipped. New York’s main contract, West Texas Intermediate for April delivery, was down seven cents to $99.63 in afternoon trade, and Brent North Sea crude for May dropped 23 cents to $106.56.

Gold fetched $1,346.53 an ounce at 1055 GMT compared with $1,362.05 late Tuesday.

In other markets, Bangkok lost 0.64% or 8.81 points to 1,364.27, Jakarta ended higher 0.33%, or 15.85 points, at 4,821.46, Kuala Lumpur’s main stock index lost 3.26 points, or 0.18%, to 1,817.44, Singapore closed down 0.42%, or 13.09 points, at 3,080.75, Manila was flat, edging down 4.06 points to 6,462.49, Taipei fell 0.49%, or 42.48 points, to 8,689.46 and Wellington rose 0.37%, or 19.05 points, to 5,154.72.