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» 06/12/2012
ASIA - EU
Asian markets drop after euphoria over Spain cools and fears for Italy and Greece emerge
Stock markets drop to almost 1%. Lack of commitment on growth. For China aid to Spain contain short-term crisis, but no safeguard to stability. On 17 June, Greece votes for or against the euro.

Hong Kong (AsiaNews) - The Asian markets have opened almost all dropping 1%, after the mild euphoria of yesterday, in the hope that the loans of 100 billion euros to Spain would mark a beginning of solution to European debt.

But yesterday, the Spanish treasury bonds rose by 6.5% and Italy's 10 year bonds went to 6.032%.

Today, the Nikkei fell below 1%, that of Shanghai and Hong Kong by 0.8, 0.9 Seoul. All shares of companies that trade with Europe declined about 2%.

The fears of analysts is that the European crisis will continue to spread and that the Union is doing much to lend money to banks, but little for growth. Yesterday stock markets in the U.S. and Europe also took hits.

Adding to uncertainty is the June 17 vote in Greece, after inconclusive election last May 6, unable to produce a government to direct the country under an austerity regime following the dictates of the EU. The next Greek elections seem to be characterized by the decision of whether to stay in or exit from the euro.

China, which Europe has recently asked for financial support, but to no avail, said that the EU's move to aid Spain serves to curb the crisis in the short term, but more decisive steps are needed to protect a more continuous stability .

 

 


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See also
04/28/2010 ASIA - EU
Asian markets fall in wake of crisis in Greece
06/30/2010 ASIA
Asian stock markets fall, doubts about recovery in China
05/12/2011 ASIA
Asian markets dragged down by Wall Street sell-off
07/29/2011 ASIA
Asian markets plummet after Republican say no to Boehner plan
06/11/2012 ASIA - EU
Asian stock markets recover after aid to Spanish banks

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