Asian stocks fell as
Greece voted against accepting further austerity, increasing the
likelihood of the country’s exit from the euro zone.
The MSCI Asia Pacific
Index slid 0.5 percent to 145.65 as of 9:01 a.m. in Tokyo. Sixty-one
percent of voters backed Prime Minister Alexis Tsipras’s rejection of
further spending cuts and tax increases in an unprecedented referendum
that’s also taken the country to the brink of financial collapse. The
results mean Greece exiting the currency union is now the base scenario,
JPMorgan Chase & Co. said. Japan’s Topix index sank 1.5 percent as
the yen gained 1.2 percent against the euro.
European Union
President Donald Tusk called a euro-area summit for Tuesday. While the
European Central Bank’s Governing Council is due to talk on Monday on
whether to keep supporting Greece’s lenders, it’ll probably be reluctant
to preempt such a meeting.
Source : Bloomberg
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