Asian markets down on Greek fears

<p>Asian investors are concerned Greece will default on its debt obligations.</p>

Asian investors are looking nervously towards Greece as concerns grow about whether the European nation will default on its debt.

The country was recently taken over by the anti-austerity party Syriza and it has prompted questions over the debt owed by Greece following the bailout from the European Union during the economic downturn.

These concerns saw Asian markets slip on Tuesday (February 10th) but Shanghai was boosted by Chinese data showing inflation to be at its lowest level in over five years.

Across the region, Tokyo was down 0.33 per cent to 17,652.68, Seoul fell by 0.57 per cent to 1,935.86 while Sydney declined 0.25 per cent to 5,800.57.

It was a different story in China where Shanghai edged up 1.5 per cent to 3,141.59 while Hong Kong remained flat at 24,528.10.

Investors in Asia will be continuing to look to the West to see how the story with Greece and the eurozone unfolds.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.