Most
Asian stocks fell as a rebound in the yen hurt Japanese shares and
investors weighed the outlook for U.S. interest rates and Greece’s debt
talks.
About
three shares dropped for each that gained on the MSCI Asia Pacific
Index, which traded little changed at 147.44 as of 9:01 a.m. in Tokyo.
Japan’s Topix index slid 0.8 percent after the yen gained 0.9 percent
against the dollar on Monday, when the Standard & Poor’s 500 Index
fell to a two-month low. Strong jobs data Friday bolstered bets the
Federal Reserve will raise interest rates this year. German Chancellor
Angela Merkel demanded urgent action from the Greek government on Monday
after it rejected the terms of an aid package again last week.
Creditors
are growing increasingly exasperated with Greek Prime Minister Alexis
Tsipras’s negotiating tactics. U.S. President Barack Obama voiced his
concerns about the standoff over Greek financial aid at a summit of
Group of Seven leaders. European Commission President Jean-Claude
Juncker said Greece is not doing enough to ensure it can stay in the
euro.
South
Korea’s Kospi index slipped 0.1 percent today. New Zealand’s NZX 50
Index lost 0.3 percent. Australia’s S&P/ASX 200 Index fell 0.1
percent as trading resumes following a holiday on Monday. Markets in
China and Hong Kong have yet to open.
Source : Bloomberg
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