Asian stocks mixed on Greece – China concerns

<p>The Shanghai Composite Index fell 2.9 per cent to 3,668.59.</p>

Asian stocks slid today (June 7th), led by China, amid ongoing concerns over Greece's future after Sunday's referendum.

Despite Chinese authorities announcing measures to support brokerages and fund managers through the purchase of massive amounts of stocks, the Shanghai Composite Index fell 2.9 per cent to 3,668.59 and Hong Kong's Hang Seng shed one per cent to 24,972.54. Chinese shares have fallen nearly 30 per cent after hitting a peak on June 2nd.

Meanwhile, investors worry about Greek as the country's banks are running short of cash. Results from Sunday's referendum showed 61 per cent of voters opted to reject demands for added austerity measures in exchange for further bailout funding, while 39 per cent said "yes." 

A European summit is expected  later today to discuss the implications of Sunday's "no" vote.

Tokyo's Nikkei 225 was up 1.4 per cent to 20,386.70, while Seoul's Kospi lost 0.7 per cent to 2,040.11 and Australia's S&P/ASX 200 soared two per cent to 5,585.40.

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