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

clock

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. T...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Partner Insight: Tariffs are here to stay. What's next for investors?

Partner Insight: Tariffs are here to stay. What's next for investors?

The current outlook for US tariffs is complex and their full impact on growth remains to be seen. Columbia Threadneedle Investments explores what advisers need to know, key events to keep top of mind and how to navigate the uncertainty.

Columbia Threadneedle Investments
clock 23 October 2025 • 5 min read
IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

Think tank urges chancellor to avoid 'limping from one forecast to the next'

Linus Uhlig
clock 16 October 2025 • 2 min read
Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read