Most Asian stocks fell as Japanese shares slid on a stronger yen and investors awaited the outcome of talks between Greece and its creditors.
About three shares dropped for every two that advanced on the MSCI Asia Pacific Index, which slipped less than 0.1 percent to 150.41 as of 9:02 a.m. in Tokyo. Japan’s Topix index sank 0.3 percent after the yen gained 0.5 percent against the dollar on Tuesday. The impasse over Greece’s future lingered as both sides worked on rival proposals for the conditions of a financial lifeline with debt payments looming. Bonds in Australia and New Zealand tracked a selloff in European and U.S. debt that was reignited Tuesday.
Greek Prime Minister Alexis Tsipras heads to Brussels for talks after finding himself boxed into a corner as creditors prepare to deliver a final proposal to end the stalemate over a financial lifeline. After European leaders and the head of the International Monetary Fund held talks in Berlin on Monday night, creditors agreed on a document designed to avert a default that will be presented to Greece. Tsipras said the only plan on the table was one his government submitted.
Australia’s S&P/ASX 200 Index fell 0.1 percent, as did New Zealand’s NZX 50 Index. South Korea’s Kospi index added 0.1 percent. Markets in China and Hong Kong have yet to open.
Source : Bloomberg