Most Asian markets down over Greek referendum results

<p>However, China bounced back from earlier losses.</p>

Shares in Asia tumbled today (June 6th) after Greece's voters rejected conditions set by its international creditors to receive bailout funds at a referendum on Sunday.

Investors worried about the country's future in the 19-nation eurozone and the consequences for the world's economy.

Results 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 tomorrow to discuss the implications of Sunday's "no" vote.

"The referendum's result adds another layer of uncertainty to a very uncertain situation," Diego Iscaro, a senior economist for IHS Global Insight, told AP. "Negotiations will resume over the coming days, but the probability of a deal is distant."

However, in China, the Shanghai Composite index rebounded from last week's heavy losses after regulators announced support for brokerages and fund managers through the purchase of massive amounts of stocks. It closed 2.4 per cent higher at 3,775.91.

Tokyo tumbled 2.08 per cent to 20,112.12, Seoul lost 2.40 per cent to 2,053.93 and Sydney dropped 1.11 per cent to 5,476.70. Hong Kong fell 3.18 per cent to 25236.28.

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