Asian shares fall as Greece concerns persist
City Index June 16, 2015 10:36 PM
<p>Asian stock markets have seen falls today as investors continue to express concern over Greece’s economic situation.</p>
Shares declined again across Asia today (June 16th) as markets around the world continued to react negatively to Greece's ongoing financial crisis.
Japan's Nikkei 225 ended the day down 0.5 per cent, while the Shanghai SSEC was down 1.3 per cent and the MSCI index of Asia-Pacific shares outside of Japan fell 0.4 per cent, Reuters reports.
Masayuki Kubota of Tokyo's Rakuten Securities said overseas equity markets have weighed on the Japanese markets, which otherwise could have increased thanks to country's economic recovery "gaining momentum".
Concerns remain that Greece will default on its debt and potentially leave the eurozone and this, along with caution ahead of the two-day US Federal Reserve meeting that began today, weighed on trading.
Market strategist at IG in Melbourne Evan Lucas explained the situation is unlikely to change quickly, noting: "The macro duo of the FOMC [Federal Open Market Committee meeting] and Greece continue to create jitters – it will be a daily theme for the next month; in the case of the Fed, the next three to four months."
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