Asian stock markets snapped the day’s trade mostly lower on Tuesday as talks dragged on to resolve a massive debt mess in Greece before it explodes into a wider financial crises. Officials in Greece struggled to make headway on austerity measures which are crucial for obtaining the next installment of the bailout package for the debt-strapped country, with Prime Minister Lucas Papademos and other political leaders delaying a key meeting on reforms demanded by the country’s creditors. Meanwhile, Chinese shares declined over one and half a percent with the Shanghai Composite Index breaking below 2,300 after hopes of a cut in bank reserve requirements were doused.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,291.90 | -39.23 | -1.68 |
Hang Seng | 20,699.19 | -10.75 | -0.05 |
Jakarta Composite | 3,955.45 | -19.34 | -0.49 |
Nikkei 225 | 8,917.52 | -11.68 | -0.13 |
Straits Times | 2,957.78 | 17.68 | 0.60 |
Seoul Composite | 1,981.59 | 8.46 | 0.43 |
Taiwan Weighted | 7,707.44 | 19.46 | 0.25 |