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Tuesday 7 July 2015

Most Asian Markets Fall After Greek Results, But China Rises for 07 July 2015

Asian shares mostly fell Monday after Greece's voters vehemently rejected conditions set by its international creditors, deepening doubts over their future in the 19-nation eurozone. But China's benchmark rebounded from heavy losses last week. Greece's debt problem has long overshadowed the market and with a European summit expected Tuesday, the implications of Sunday's 'no' vote remain unclear. So the initial response to Sunday's Greek referendum was negative but not panicked. Japan's Nikkei 225 stock index was down 1.6 percent in afternoon trading at 20,215.16. South Korea's Kospi also fell 1.6 percent to 2,070.89. Hong Kong's Hang Seng index lost 1.1 percent to 25,789.98. Mainland Chinese shares, which are somewhat isolated from world markets thanks to capital controls limiting the scope of foreign investment, recovered from their recent swoon as authorities and the securities industry acted over the weekend to staunch recent sell-offs. The Shanghai


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