05 Jan '12, 4am

Asian markets mixed as Europe fears return

Asian markets mixed as Europe fears return

HONG KONG: Concerns over Europe's debt crisis returned to the forefront on Thursday, leaving Asian markets mixed while the euro continued to be pressured by the dollar and yen. Despite an upbeat set of economic data from the United States and Europe, dealers turned their attention to indebted Greece and Spain while banks deposited a record amount of cash with the ECB, raising credit crunch fears. Sydney finished 1.08 per cent lower, or 45.1 points, to 4,142.70, Tokyo fell 0.83 per cent, or 71.40 points, to end at 8,488.71, while Seoul lost 0.13 per cent, or 2.48 points, to close at 1,863.74. Hong Kong was 0.17 per cent up in afternoon trade with Shanghai down 0.97 percent. Taipei added 0.68 per cent, or 47.89 points, to 7,130.86. In Greece, Prime Minister Lucas Papademos said the nation faced an "uncontrolled default" in March unless unions and employers can quickly agree ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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