Japanese stocks fell for a third day after the yen strengthened by the most in more than two months and as Greek negotiations continue in a bid to cement its euro-area membership.
The Topix index declined 0.7 percent to 1,649.86 as of 9:01 a.m. in Tokyo, with all but one of its 33 industry groups dropping. The Nikkei 225 Stock Average fell 0.8 percent to 20,298.84. The yen traded at 124.60 per dollar after rising 0.9 percent Monday. Japan reports on machinery tool orders and consumer confidence today, with Prime Minister Shinzo Abe to give a briefing at the Group of Seven nations summit in Germany.
E-mini futures on the Standard & Poor’s 500 Index added 0.1 percent. The underlying measure slipped 0.7 percent on Monday to a two-month low as investors considered the timing of a U.S. interest-rate increase and the outlook for Greece’s debt talks.
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 G-7 leaders. European Commission President Jean-Claude Juncker said Greece is not doing enough to ensure it can stay in the euro.
Source : Bloomberg