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Asian shares mixed, eyes on Ukraine crisis

Hong Kong - Asian markets were mixed on Friday, with another upbeat lead from Wall Street overshadowed by concerns about the Ukraine crisis.

The euro maintained its momentum after a pick-up on Thursday fuelled by a healthy consumer confidence reading from Germany, while the dollar also edged higher against the yen.

Tokyo added 0.77% and Sydney was up 0.24% but Hong Kong dipped 0.55%, Seoul was 0.30% lower and Shanghai eased 0.10%.

US shares ended mostly higher on Thursday following another round of impressive corporate results as well as a second strong month of durable goods orders in March indicating the economy is rebounding from its winter slump.

The Nasdaq climbed 0.52%, boosted by a rally in Apple, which rose more than 8% on better-than-expected earnings. The S&P 500 added 0.17% and the Dow was unchanged.

However, traders remain on edge over the situation in Eastern Europe. Russia on Thursday ordered new military exercises on the border of Ukraine and warned of "consequences" after Kiev launched a deadly assault against pro-Kremlin rebels occupying a flashpoint town.

Later US Secretary of State John Kerry accused Russia of a "full-throated effort to actively sabotage the democratic process through gross external intimidation" and described the military exercises as "threatening".

He also said Moscow had broken an agreement signed last week in Geneva aimed at easing tensions, adding that refusal to take any steps to end the crisis would "not just be a grave mistake, it will be an expensive mistake".

The veteran diplomat added "we are ready to act" as Washington tees up new economic sanctions against Moscow.

On currency markets the euro edged up to $1.3833 and ¥141.65 from $1.3830 and ¥141.53 in New York, boosted by news that the Ifo economic institute's closely watched German business climate index rose in April following a dip in March.

The dollar fetched ¥102.41, against ¥102.32 in New York late on Thursday.

Traders were largely unmoved by data showing Japanese inflation rose for a 10th straight month in March, with rising energy costs behind the increase.

Oil prices rose. New York's main contract, West Texas Intermediate for June delivery, was up 7 cents at $102.01 and Brent North Sea crude for June climbed 16c to $110.49.

Gold fetched $1 291.96 an ounce at 02:40 GMT compared with $1 271.96 on Thursday.

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