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» 05/16/2012
ASIA
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 (-0.8%); Shanghai -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 from China, 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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See also
02/13/2012 ASIA - GREECE
Stock markets gain in Asia, while Athens burns
04/28/2010 ASIA - EU
Asian markets fall in wake of crisis in Greece
09/06/2011 ASIA
Asian markets slide, fears over euro and U.S. unemployment
03/25/2013 ASIA - CYPRUS
Asian markets up after deal to save Cypriot economy
05/07/2012 ASIA-EUROPE
Asian stocks fall after the elections in France and Greece

Editor's choices
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Pope: I am with the persecuted Christians of Mosul and the Middle East "May the God of peace inspire in all a genuine desire for dialogue and reconciliation. Violence is never defeated with violence. Violence is defeated with peace." At the Sunday Angelus Francis comments on the parable of the wheat and the weeds. God is "patient" He knows "the same weeds in the end, may become good wheat". But "at the time of the harvest, that is, of judgment, the reapers will execute the order of the master separating the weeds to be burned".
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Beijing, seminarians desert graduation ceremony: We will not celebrate Mass with illegitimate bishops The rector of the seminary is the illegitimate bishop Joseph Ma Yinglin: Students refuse to concelebrate with him and reject Msgr. Fang Xingyao, who has participated in several illegal episcopal ordinations. The directors close the year without awarding diplomas and send students home: rumors of some courses being "suspended" in September. The precedent of 2000, when 130 young students chose fidelity to the Pope over compromise with the government.
HONG KONG-CHINA-VATICAN
Card Zen: Religious freedom and civil liberties are united, for China and Hong Kong
by Bernardo CervelleraA wide ranging conversation with the bishop emeritus of Hong Kong: the courage of Msgr. Ma Daqin, who sent a message to Pope Francis; underground Catholics are also prepared to be arrested; suspicions about Beijing’s sincerity towards possible dialogue with the Holy See. And in Hong Kong, the march for a referendum on democracy; support for "Occupy Central"; the fear of the government and arrests. Card. Zen reaffirms that religious freedom and civil liberties go hand in hand.

Dossier
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
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by Bernardo Cervellera
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