Asian stocks fell on Monday after Greece decided to close its banks and impose capital controls in a dramatic turn in their attempt to manage its huge debt.
Oil prices fell and the euro depreciated against the dollar after the announcement of Athens of measures to contain the withdrawal of Greek banks and adding pressure on creditors to make concessions before the expiry of its bailout program Tuesday.
The Tokyo Nikkei 225 index lost 2% to 20283.98 points. The Shanghai Composite index was down 0.4% to 4178.56 despite a surprising reduction of interest rates in China this weekend.
The Hang Seng of Hong Kong was left January 1 , 7% to 29192.67 points. The main market table of Seoul, the Kospi, fell 1.6% to 2057.52 and the S & P / ASX 200 Sydney 1.8% to 5447.80. The references of the bags of Taiwan, Singapore and New Zealand also fell sharply.
“Even if somehow an agreement, Greece’s ability is reached to implement the agreed reforms is doubtful,” said IHS Global Insight economist Rajiv Biswas in a report.
A Greek exit from the euro would reduce the growth of the Asian economy by 0.3% next year due to disturbances that cause the trade and financial markets, Biswas said.
At the global level, it is unlikely that the brinkmanship of Athens with its creditors have an impact as server as the financial panic triggered by the collapse of Lehman Bros. September 2008, economists said.
No comments:
Post a Comment