Asian
stocks fell, following global equities lower, as Greece and its
creditors broke off talks for the night in Europe without reaching a
deal.
The
MSCI Asia Pacific Index lost 0.1 percent to 149.58 as of 9:04 a.m. in
Tokyo. Shares retreated in the U.S. and Europe on Wednesday as
disagreement ensued over the terms of Greece’s bailout. Prime Minister
Alexis Tsipras and his country’s creditors agreed to meet again first
thing Thursday as each side pushes for an agreement. Futures on Chinese
shares jumped after the government announced plans to scrap a
bank-lending limit as it seeks to stoke growth.
Technical
teams will convene at 6 a.m. in Brussels, followed at 9 a.m. by the
resumption of negotiations between Tsipras, International Monetary Fund
chief Christine Lagarde, European Central Bank President Mario Draghi
and European Commission President Jean-Claude Juncker.
E-mini
futures on the Standard & Poor’s 500 Index rose 0.1 percent. The
underlying measure dropped 0.7 percent on Wednesday. The Stoxx Europe
600 Index lost 0.4 percent.
FTSE
China A50 Index contracts added 0.8 percent in most recent trading.
China intends to remove a limit capping commercial banks’ loans at 75
percent of deposits, according to a draft law amendment posted online
after markets closed Wednesday. The proposal, which needs to be approved
by the legislature, boosts banks’ flexibility to manage lending.
Source: Bloomberg
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