Asian markets end lower as Greece austerity talks drag on

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.