Most Asian stocks fell as a rebound in the yen hurt Japanese shares and investors weighed the outlook for U.S. interest rates and Greece’s debt talks.
About three shares dropped for each that gained on the MSCI Asia Pacific Index, which traded little changed at 147.44 as of 9:01 a.m. in Tokyo. Japan’s Topix index slid 0.8 percent after the yen gained 0.9 percent against the dollar on Monday, when the Standard & Poor’s 500 Index fell to a two-month low. Strong jobs data Friday bolstered bets the Federal Reserve will raise interest rates this year. German Chancellor Angela Merkel demanded urgent action from the Greek government on Monday after it rejected the terms of an aid package again last week.
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 Group of Seven leaders. European Commission President Jean-Claude Juncker said Greece is not doing enough to ensure it can stay in the euro.
South Korea’s Kospi index slipped 0.1 percent today. New Zealand’s NZX 50 Index lost 0.3 percent. Australia’s S&P/ASX 200 Index fell 0.1 percent as trading resumes following a holiday on Monday. Markets in China and Hong Kong have yet to open.
Source : Bloomberg