Summary Investors are also awaiting the end of the Federal Reserve's latest policy meeting.
HONG KONG (AFP) - Asia s markets were mixed in edgy trade on Wednesday 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 0.39 percent, or 56.32 points, to end at 14,354.95 and Sydney added 0.21 percent, or 11.0 points, to 5,355.6.
But Seoul lost 0.13 percent, or 2.53 points, to close at 1,937.68 and Shanghai finished 0.17 percent 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.
Despite the continuing crisis in Europe, traders are focused on the Fed s two-day meeting which ends later Wednesday.
On Wall Street Tuesday the Dow rose 0.55 percent, the S&P 500 shot up 0.72 percent -- to end just short of a record high -- and the Nasdaq climbed 1.25 percent.
- Japan trade deficit narrows -
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"Putin indicated he isn t seeking a partition of Ukraine , soothing market fears (for now) that the crisis will escalate further," National Australian Bank said.
"It gave investors the chance to start focusing on the (Fed) meeting tonight."
While analysts expect a further cut in the bank s stimulus programme as the economy picks up, they also predict it will scrap its unemployment rate threshold.
The Fed previously said unemployment must fall to 6.5 percent before it considers raising interest rates.
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 percent year-on-year to 800.3 billion yen ($7.9 billion) 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 595 billion 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 $1,351.50 an ounce at 0810 GMT compared with $1,362.05 late Tuesday.
In other markets:
-- Taipei fell 0.49 percent, or 42.48 points, to 8,689.46.
Taiwan Semiconductor Manufacturing Co was unchanged at Tw$114.5, while leading chip design house MediaTek shed 2.87 percent to Tw$440.0.
-- Wellington rose 0.37 percent, or 19.05 points, to 5,154.72.
Meridian Energy closed 1.4 percent higher at NZ$1.11, while Mighty River Power added 1.5 percent to NZ$2.10. But Telecom was off 0.62 percent at NZ$2.42.
-- Manila was flat, edging down 4.06 points to 6,462.49.
Aboitiz Power rose 0.38 percent to 39.90 pesos while International Container Terminal Services fell 0.88 percent to 101.10 pesos.
