LBR LBO Summit
LBR LBO Summit

Asian markets lower on Fed intransigence, Tsipras wins Greece election

Sept 21, 2015 (LBO) – Asian shares fell on Monday following weaker U.S. markets on Friday after the U.S. held interest rates unchanged citing global growth concerns.

The Australian ASX 200 has plunged 2.5 percent, Shanghai is down 0.59 percent and the Hang Seng is 1.33 percent lower. This follows a fall in U.S. markets after the S&P closed down 1.6 percent and the Dow Jones Industrial Average closed down 1.74 percent on Friday. Japan is closed on Monday for Respect for the Aged Day.

Markets also noted Greece elections on Sunday in which Alexis Tsipras claimed victory in the general election and is likely to return to power in a coalition government that accepted European demands for austerity cuts.

Tsipras’s Coalition of the Radical Left, or Syriza, received 35.5 of the vote.

Although equity markets want lower interest rates, analysts said they were also looking for signs that the US was in recovery