|Page (1) of 1 - 09/14/11||email article||print page|
Asian markets mostly move lower amid Greek debt worries
SEOUL, South Korea (AP) ' Asia's main stock markets mostly fell Wednesday despite gains on Wall Street and in Europe as trading was subdued amid simmering worries over Greece's debt crisis.
Japan's Nikkei 225 index fell 0.2 percent to 8,599.74, while Hong Kong's Hang Seng declined 0.5 percent to 18,931.52.
Markets have been going through wild swings amid worries over whether Greece may default, a development that could reverberate through other troubled European economies as well as damage the region's banking system.
Investors in Europe and the U.S. took a measure of relief, however, after signs Tuesday that European leaders would do what it takes to avoid such a scenario.
German Chancellor Angela Merkel indicated the debt-ridden country was making progress in meeting the demands of international creditors.
Mainland China's Shanghai Composite Index fell marginally to 2,470.51.
South Korea's Kospi was the region's biggest loser, declining 2.3 percent to 1,770.94 as movements were magnified after a two-day holiday.
Markets in Australia and new Zealand also fell, while those in Singapore and Malaysia gained.
In New York, the Dow Jones industrial average rose 0.4 percent to close at 11,105.85 on Tuesday. The Standard & Poor's 500 index gained 0.9 percent to 1,172.87. The technology-focused Nasdaq composite index rose 1.5 percent to 2,532.15.
Europe's main bourses also rose Tuesday.
In currencies, the dollar strengthened slightly Wednesday to 76.99 yen from 76.94 yen late in New York on Tuesday. The euro fell to $1.3647 from $1.3693.
Benchmark oil for October delivery was down 82 cents to $89.39 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $2.02 to end at $90.21 per barrel on the Nymex on Tuesday.