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Market Update

Asian Markets End Weak

Asian markets ended on a weak note Monday following negative cues from Wall Street stocks last week Friday and as tensions over Ukraine intensified.

The Nikkei declined 0.4%. The Shanghai Composite closed flat while the Hang Seng edged up 0.2%. The All Ordinaries fell 1.3%. The Sensex was shut for a public holiday.

In Ukraine, pro-Russian activists and militants extended their grip over eastern Ukraine following some bloodshed on Sunday. Ukraine mobilized military forces as it attempted to prevent Russia form taking over the region. The U.S. and western allies said some of the gunmen appeared to be Russian forces in unmarked uniforms.

Investors also seemed reluctant to commit themselves ahead of key monthly data due from China this week Wednesday.

Stocks on the Move

Sharp Corp. tumbled 8.7% on reports the company is planning another share issue.

Fast Retailing also ended lower, down 3% after CNBC reported market rumours the company is planning a new acquisition outside Japan.

Bellwether Toyota gained 1.8% while Fuji Heavy lifted 2.7%.

Mitsubishi UFJ Financial advanced 1.3% while Sumitomo Mitsui edged up 0.1%. Mizuho ended flat.

In China, according to the state-run Xinhua News Agency, a toxic oil leak from China National Petroleum Corp. contaminated the drinking water of over 2 million people in the city of Lanzhou.

The report affected the company’s listed peers as China Petroleum & Chemical Corp. slipped 0.7%.

Sinopec Shanghai Petroleum Co. fell 5.8% after the company warned of a first-quarter loss.

Hong Kong Exchanges and Clearing was up 2.6% as it pared earlier gains of over 4%.

In Sydney, BHP Billiton was down 0.7% while Woodside Petroleum slipped about half a percent.

Adding to the previous week’s losses following its profit warning, Coca-Cola Amatil dropped a further 7%.

JB Hi-Fi was down just over a percent on reports it may be a possible acquisition target.

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