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.