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    » 06/12/2012, 00.00

    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

    28/04/2010 ASIA - EU
    Asian markets fall in wake of crisis in Greece
    All markets down in Asia down 2-3%. The Greek government bonds described as "junk." Fears of a new crisis in the eurozone and worldwide.

    30/06/2010 ASIA
    Asian stock markets fall, doubts about recovery in China
    Nikkei at minus 2.13; Hong Kong and Shanghai negative. Consumer confidence in the U.S. falls, forecasts for growth in China reduced from 1.7 to 0.3 (April). Yen strengthens, penalizing exports from Japan.

    12/05/2011 ASIA
    Asian markets dragged down by Wall Street sell-off
    Negative indices caused by the fall of prices in oil, silver and gold. The dollar gains on the euro because of crisis in Greece.

    29/07/2011 ASIA
    Asian markets plummet after Republican say no to Boehner plan
    Concerns about the United States public debt cause a general decline in stocks. Tokyo looses 0.69%, following the collapse of shares in technology. Hong Kong and Shanghai fare no better.

    11/06/2012 ASIA - EU
    Asian stock markets recover after aid to Spanish banks
    Hong Kong Stock Exchange opens up 2.35. Shares of companies that export to Europe also increase. Positive market data of Chinese trade: in May exports grew by 15.3; imports by 12.7 in a year. Price of oil and copper up due to increase in Chinese imports.



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