Japanese stocks fell,
joining a global retreat, after Greece became the first country to defer
a payment to the International Monetary Fund since the 1980s as its
game of brinkmanship with creditors goes down to the wire.
The Topix index
dropped 0.6 percent to 1,663.62 as of 9:01 a.m. in Tokyo, headed for its
first weekly loss in a month. The Nikkei 225 Stock Average lost 0.5
percent to 20,396.35. The MSCI World Index fell to its lowest level in a
month after Greek Prime Minister Alex Tsipras rejected demands his
country continue harsh fiscal reforms in exchange for bailout funds and
German Chancellor Angela Merkel said “we’re still far from reaching a
conclusion.”
Greece on Thursday
told the IMF it would delay a debt payment of about $339 million due
Friday, submitting a request to the fund to bundle payments totaling
about $1.7 billion due this month into one lump-sum payment.
Greece also rejected
the latest proposal from its international creditors, with the Finance
Ministry saying the plan “can’t solve the riddle” and an agreement
requires “immediate convergence of the institutions to more realistic”
proposals.
E-mini futures on the
Standard & Poor’s 500 Index slipped 0.1 percent after the underlying
measure slumped 0.9 percent to a one-month low on Thursday in New York.
Source : Bloomberg
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