MARKETS-ASIA Asia cheers Greece's 11th-hour proposals to avert default

Record ID: 151902

  • Title: MARKETS-ASIA Asia cheers Greece's 11th-hour proposals to avert default
  • Date: 22nd June 2015
  • Summary: TOKYO, JAPAN (JUNE 22, 2015) (REUTERS) EXTERIOR OF TOKYO STOCK EXCHANGE BUILDING SIGN READING "JPX TOKYO STOCK EXCHANGE" STOCK PRICES MOVING ON ELECTRONIC DISPLAY VARIOUS OF STOCK PRICES ON SCREENS VARIOUS OF STOCK PRICES ON ELECTRONIC DISPLAY VARIOUS OF STAFF WORKING WOMAN LOOKING AT STOCK EXCHANGE SEOUL, SOUTH KOREA (JUNE 22, 2015) (REUTERS) SEOUL STREETS CARS PASSING ON
  • Embargoed: 7th July 2015 13:00
  • Keywords:
  • Location: Australia
  • Country: Australia
  • Topics: General
  • Reuters ID: LVA3WCQ6K4E6IY6JM6UA4O5B56JR
  • Aspect Ratio: 16:9
  • Story Text: Asian shares got the week off to a strong start and U.S. stock futures and the euro firmed on Monday (June 22), after Greece scrambled to avert defaulting on its debt with last-minute proposals aimed at appeasing its creditors.
    In Tokyo, the Nikkei rose 0.8 percent to 20,353.99 on Monday morning with hopes that Greek Prime Minister Alexis Tsipiras' proposals will appease the foreign creditors to avoid a default. Markets opened flat but advanced by mid morning trade.
    The South Korean won rose against the dollar, while Seoul shares edge higher, as risk-on sentiments were bolstered after Greece made a new offer on a reforms package.
    Meanwhile, the Korea Composite Stock Price Index (KOSPI) was up 0.3 percent at 2,052.39 points, rising for a fourth straight session.
    Hong Kong's Hang Seng index opened up 0.4 percent at 26,854.32 points in the morning session, while mainland China's markets were closed on Monday for the Dragon Boat Festival.
    Australian shares edged down 0.19 with losses in the mining and financial sectors as investors held off on buying amidst uncertainty over the result of a meeting aimed at breaking a deadlock over Greece.
    The S&P/ASX 200 index fell 10.594 to 5586.400 by 0109 GMT. The benchmark rose 1.3 percent on Friday (June 19), on a second week of gains.
    The head of the Bank of Greece warned bankers last week to brace for a "difficult day" on Tuesday (June 23) if Athens does not reach a deal with creditors at an emergency euro zone summit on Monday, two senior bankers told Reuters.
    The chief-of-staff to European Commission President Jean-Claude Juncker sent a tweet calling the latest proposal from Greece to resolve its debt crisis a "good basis for progress" in talks at an emergency euro zone summit meeting later on Monday.
    Athens is running out of cash to repay a 1.6 billion euro IMF loan due at the end of the month unless it secures new financing from international creditors.
    Speculation is rife that, if no deal were reached on Monday, Greece may need to impose capital controls on Tuesday to avert a banking crisis as savers keep withdrawing funds from banks.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register