AFP, BSS :
Asian markets mostly rose Wednesday as investors shrugged off Greece’s default, with Tokyo lifted by an upbeat survey on business confidence, but Shanghai tumbled at the open after the previous day’s surge.
The euro edged down against the dollar after Athens failed to service its debt to the International Monetary Fund, and analysts warned of continued uncertainty, even after Greeks vote in a weekend referendum, which is effectively a poll on eurozone membership.
Tokyo rose 0.22 percent, Sydney added 0.47 percent and Seoul was 0.20 percent higher.
Shanghai fell more than two percent at the open before recovering to sit 0.89 percent lower at mid-morning. The index ended more than five percent higher Tuesday, at the end of a day of wild volatility that at one point saw it down five percent.
Hong Kong and Bangkok are closed for public holidays.
As expected, Greece defaulted on its 1.5-billion-euro ($1.7-billion) IMF loan Tuesday after Prime Minister Alexis Tsipras shocked creditors and broke off bailout reform talks at the weekend, calling called a July 5 plebiscite on creditors’ proposals.
The deadline to pay came and went after European leaders rejected a last-minute compromise from Tsipras, meaning five months of fraught talks had failed, making Greece the only developed country ever to default with the IMF.
Asian markets mostly rose Wednesday as investors shrugged off Greece’s default, with Tokyo lifted by an upbeat survey on business confidence, but Shanghai tumbled at the open after the previous day’s surge.
The euro edged down against the dollar after Athens failed to service its debt to the International Monetary Fund, and analysts warned of continued uncertainty, even after Greeks vote in a weekend referendum, which is effectively a poll on eurozone membership.
Tokyo rose 0.22 percent, Sydney added 0.47 percent and Seoul was 0.20 percent higher.
Shanghai fell more than two percent at the open before recovering to sit 0.89 percent lower at mid-morning. The index ended more than five percent higher Tuesday, at the end of a day of wild volatility that at one point saw it down five percent.
Hong Kong and Bangkok are closed for public holidays.
As expected, Greece defaulted on its 1.5-billion-euro ($1.7-billion) IMF loan Tuesday after Prime Minister Alexis Tsipras shocked creditors and broke off bailout reform talks at the weekend, calling called a July 5 plebiscite on creditors’ proposals.
The deadline to pay came and went after European leaders rejected a last-minute compromise from Tsipras, meaning five months of fraught talks had failed, making Greece the only developed country ever to default with the IMF.
