| Asia mixed as Greek exit talk stirs |
Asia markets mostly fell on Tuesday, with investors fretting about the possibility of a Greek exit from the euro-zone, although Hong Kong looked set to break its longest losing run in more than a year.
News that the German economy returned to growth in the first quarter while France held steady also helped some markets come off session lows.
Japan’s Nikkei 225 Index backtracked 73.10 points, or 0.8%, to 8,900.74
The Hang Seng Index in Hong Kong ended an eight-session losing streak with a gain of 159.27 points, or 0.8%, to 19,894.31
Fear that Greece may exit from the European Union rattled offshore markets on Monday, as the nation’s political impasse stretched into a second week with no agreement on a unity government. U.S. stocks ended at three-month lows.
Greek President Karolos Papoulias late Monday proposed a technocrat government but that plan drew weak support from bickering parties, according to reports, as global discussion about the country’s removal from the currency bloc mounted
But euro group finance ministers sought to pour cold water on the speculation and said at a meeting in Brussels late Monday that no-one supported a Greek exit.
Exporters were notable decliners across Asia.
Sharp Corp. and Panasonic Corp. lost 3.1% each, while Mazda Motor Corp. dropped 2.7% in Tokyo as the dollar traded below ¥80.
In Seoul, LG Display Co. gave up 3.9% and LG Electronics Inc. traded 2.1% weaker.
Financials were also softer against a backdrop of global gloom, with Moody’s Investor Service downgrading 26 Italian banks late Monday.
In Tokyo, Nomura Holdings Inc. and Daiwa Securities Group Inc. both dropped 2.2%, and Aozora Bank Ltd. lost 2.6% after reporting full-year earnings on Monday.
Sydney-listed investment bank Macquarie Group Ltd. sank 3.1%.
Banks in Hong Kong bucked the downward trend however, with HSBC Holdings PLC up 0.3% and BOC Hong Kong Holdings Ltd. rising 1.5%.
Gains for index heavyweights China Mobile Ltd. lent further support, with shares up 0.9%.
Resource firms traded sharply lower across Asia as global uncertainty and interest in the U.S. dollar pressured commodities in electronic trading.
In Sydney, diversified miner BHP Billiton Ltd. fell 1.7%, while copper producer PanAust Ltd. slumped 3.8% and iron ore miner Fortescue Metals Group Ltd tumbled 4.5%
Among energy firms losing ground, Tokyo-listed Inpex Corp. shed 3.1% and Woodside Petroleum Ltd. fell 2.1% in Sydney, after oil prices extended falls in Asian trading.
In other markets;
Shanghai’s CSI 300 Composite Index poked ahead 1.84 points to 2,617.37
Singapore's Straits Times Index added 12.58 points, or 0.4%, to 2,876.70
Korea’s Kospi Index sifted off 14.77 points, or 0.8%, to 1,898.96
Taiwan’s Taiex Index jumped 18.46 points, or 0.3%, to 7,395.64
New Zealand’s NXZ Index shed 20.44 points, or 0.6%, to 3,534.72
Australia’s ASX Index doffed 30.72 points, or 0.7%, to 4,266.28
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