» 05/16/2012, 00.00
Fears over Greece and Chinese loans drag Asian markets down
Losses in Hong Kong (-2.7), Tokyo (0.8), Shanghai (-0.4), Seoul (-1.3). Influence of new elections in Greece and its possible pullout of euro zone, but also fears of a clampdown on loans by China.. Chinese banks, PetroChina and even gambling are in crisis.
Hong Kong (AsiaNews) - Asian markets have been hit by losses,
spurred on by fears over the fate of
Greece and the euro zone. At
midday the stock market index
in Hong Kong fell by 2.7%, reaching the
lowest point in the last four
months. Tokyo is also negative
-0.4; Seoul - 1.3%.
Analysts point the finger to Greece,
where yesterday political leaders have
failed to form a new government,
giving way for new elections in June.
The fear is that the
next election will be won by a
government opposed to the drastic
austerity measures imposed on the
country, affecting aid for the rehabilitation of the sovereign debt. Without this aid Greece would
be forced to declare bankruptcy
and leave the euro zone.
Yesterday, news of
the failure to form a government in
Athens unleashed a wave of
negativity on all European
markets and Wall Street.
The negative results are also due to the news coming
yesterday the official media reported
that the four domestic banks registered no increase in lending in the last two weeks, raising
fears of a sharp slowdown in
the Chinese economy.
Some banks among
the strongest in China,
such as China Construction
Bank lost 2.2% in Hong Kong and 1.3 in Shanghai,
the China Citic Bank
was down 6% in
Hong Kong and PetroChina lost for 3.2
and 0.7 in
Hong Kong and Shanghai.
Even gambling is
in crisis, Galaxy Entertainment
has lost 3.6% and Wynn Macau, 4.8.
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Stock markets gain in Asia, while Athens burns
The markets react well to the Greek parliament's decision to launch the new austerity measures: government jobs cut by 15 thousand, the minimum wage reduced by 20%; liberalization of labor laws, revising debt with the banks. The new measures required by the EU and IMF as a condition for new loans.
06/07/2015 ASIA – GREECE
Asian stock markets fall after Greek No vote and Shanghai’s share plunge
The Greek referendum hits Asia-Pacific financial markets. The greatest looser is mainland China where shares have been steadily declining for weeks. In view of the situation, Japan is ready to do its part. In Seoul, blue-chip shares drop by 2.5 per cent. Wall Street’s holiday on Friday for Independence Day adds to the uncertainties.
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.
Asian markets slide, fears over euro and U.S. unemployment
Falls in all stock markets following heavy losses in Europe yesterday. 50% likelihood that next year will see a recession in the U.S.. Fresh concerns over sovereign debt in Europe.
25/03/2013 ASIA - CYPRUS
Asian markets up after deal to save Cypriot economy
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During the Regina Caeli, Pope Francis speaks about the World Day of Prayer for the Church in China, instituted by Benedict XVI. Chinese Catholics must make a “personal contribution to communion among believers and to harmony in the whole society." AsiaNews Symposium on the Church in China is set for this week. Francis appeals for peace in the Central African Republic, and for loving “one another following the example of the Lord”. For him, “Sometimes conflicts, pride, envy, and divisions leave a blotch on the beautiful face of the Church.” Five new cardinals will be named, including a bishop from Laos.
May 24, 2017: 'China, the Cross is Red', AsiaNews Symposium
The event will be held to mark the World Day of Prayer for the Church in China. A title with many meanings: the Cross is red from the blood of the martyrs; From attempts to suffocate the faith with state control; Bceause of the contribution of hope that Christianity gives to a population tired of materialism and consumerism that is seeking new moral criteria. The theme is also about the great and unexpected religious rebirth in the country. Guests to include: Card. Pietro Parolin, Msgr. Savio Hon, the sociologist of religions Richard Madsen, the testimonies of Chinese priests and laity.
24/05/2017 CHINA- VATICAN
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