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Asian markets end lower as Greece austerity talks drag on

07 Feb 2012 Evaluate

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

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