Asian Stocks Slide as Greece No Vote Raises Risk of Euro Exit

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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

Japan Stocks Fall, Yen Rises After Greece Votes No to Austerity

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Japanese stocks fell and the yen strengthened as investors sought haven assets after Greek voters rejected austerity demanded by creditors, endangering the renegade nation’s future in the euro zone.

The Topix lost 1.5 percent to 1,627.15 as of 9:01 a.m. in Tokyo, with all of its 33 industry groups declining. The Nikkei 225 Stock Average dropped 1.6 percent to 20,209.49. The yen, regarded as a haven, gained 1.3 percent to 134.60 per euro and added 0.3 percent against the dollar.

With all ballots counted, Greeks have voted 61.3 percent to back Prime Minister Alexis Tsipras in rejecting austerity measures required to win another bailout package, according to figures posted on the Interior Ministry’s website. The results mean Greece exiting the currency union is now the base-case scenario, JPMorgan Chase & Co. said. Polls last week had indicated the vote would be too close to call.

E-mini futures on the Standard & Poor’s 500 Index dropped 1.2 percent from Thursday. U.S. markets reopen Monday after a holiday on Friday.

The weekend Greek verdict turns the tables on German Chancellor Angela Merkel and her counterparts across Europe, who must decide if a financial rescue of the region’s most indebted country is still possible. It significantly raises the chances of a Greek exit from the single currency, as the country’s banks run out of cash and its economy staggers toward all-out collapse.

Source : Bloomberg

Minyak Pimpin Penurunan Mingguan Terbesar Karena Jumlah Rig Menguat

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Minyak menuju penurunan mingguan terbesar sejak Maret karena jumlah rig pengeboran aktif di AS naik untuk pertama kalinya dalam tahun ini.

Minyak berjangka di New York merosot untuk hari ketiga dan turun 5,2 persen untuk minggu ini. Jumlah rig naik 12 menjadi 640, kenaikan pertama sejak bulan Desember lalu, menurut data dari Baker Hughes Inc. Stok minyak mentah AS naik sebesar 2,39 juta barel hingga 26 Juni yang lalu, menurut laporan pemerintah pada Rabu kemarin, dibandingkan dengan perkiraan penurunan dalam survei Bloomberg sebesar 2,5 juta.

Rebound minyak dari level terendah enam tahun di bulan Maret telah terhenti di tengah spekulasi bahwa kenaikan harga akan memacu pemulihan dalam pengeboran dan memperpanjang berlimpahnya pasokan. Produksi minyak anggoata OPEC meningkat pada bulan lalu ke level tertinggi sejak Agustus 2012 setelah Irak bergabung dengan Arab Saudi dalam meningkatkan pasokan minyak menuju rekor.

Minyak mentah West Texas Intermediate (WTI) untuk pengiriman Agustus kehilangan sebanyak 53 sen, atau 0,9%, ke $ 56,40 per barel di perdagangan elektronik New York Mercantile Exchange dan berada di level $ 56,54 pada pukul 9:46 pagi waktu Sydney. Kontrak turun 3 sen menjadi $ 56,93 pada hari Kamis. Volume semua berjangka yang diperdagangkan adalah sekitar 74% di bawah rata-rata 100 hari. Dalam tahun ini harga telah naik sebesar 6,1%.

Tidak akan ada perdagangan Jumat karena tanggal 4 Juli adalah hari libur kemerdekaan di AS. Transaksi hari itu akan di booked pada Senin mendatang untuk tujuan penyelesaian.

Brent untuk pengiriman Agustus naik 6 sen, atau 0,1%, ke $ 62,07 per barel di bursa ICE Futures Europe exchange, Kamis kemarin. Minyak mentah acuan Eropa mengakhiri sesi lebih besar $ 5,14 dari WTI.(frk)

Sumber: Bloomberg

Gold Futures Pare Decline to 15-Week Low as U.S. Wages Stagnate

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Gold futures pared a decline to a 15-week low after a report showed that the U.S. added fewer jobs in June than forecast and wages stagnated, reflecting a more moderate pace of economic growth.

Earlier, gold fell as much as 1.2 percent amid concerns the Federal Reserve is moving closer to raising interest rates for the first time in nine years. Global holdings in exchange-traded funds backed by the metal last month slumped  to the lowest since 2009.

Gold on Tuesday capped the fourth straight quarterly decline, the longest skid since June 1997, partly as demand for a haven declined. The U.S. economy has completed its sixth year of expansion since the recession ended in June 2009. While the job market has rebounded, faster wage growth has been slow to follow.

Gold futures for August delivery fell 0.5 percent to settle at $1,163.50 an ounce at 1:43 p.m. on the Comex in New York. Earlier, the price touched $1,155.80, the lowest for a most-active contract since March 18.

The addition of 223,000 jobs followed a 254,000 increase in the prior month that was less than previously estimated, a government report showed Thursday. The median forecast in a Bloomberg survey called for a 233,000 advance in June.

Source : Bloomberg