Greek Debt Crisis – Bloody Monday in Asian Markets

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June 29,2015 (LBO) – Greek’s decision to close banks has caused erosion in investor confidence across Asia as evident by Billions wiped out in Monday morning trade in key Asia Pacific Markets.

Despite the China’s weekend rate cut, Shanghai lost 0.4 percent.

Nikkei and Hang Seng lost 2 percent and 1.7 percent respectively.

All markets across East Asia, new Zealand and Australia fell during Monday morning trading.

Oil prices declined by little over one percent, while gold appreciated marginally.

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Tilak
Tilak
6 years ago

Immediate concequances of debt crisis in Greece
Banks are shut for six days,ATM widthdrawals $ ,66,capital controls in place,Greece may miss IMF payments, unless accepts bitter pill.
Billions in market vslues across the world is wipped out.The USD index that measures its strength against a basket of 6major world currencies has crossed 96(few weeks back arround 93).It is well above the support line 95
& depending on US economic data + world situation can aim 98 another resistance line.

Tilak
Tilak
6 years ago

Greece may be luckier than most other countries if icomeaccross a simillar situation.Even though it is the first advance economy to miss a IMF payment the collateral damage in the event of a Greek financial meltdown (to EU,rest of the worald in financial & political terms) could mean loads of money may be raised for Greece to defuse the crisis.