Martes, Hulyo 7, 2015

Asian Shares Still Tumbling. China's Economy Lacks Support

As Asia's shares tumble, China's investors further their disappointment with the Chinese Government's asset management.  Asian shares are on its one and a half year low on Wednesday. Despite the bad news, the Japense Yen had rallied.



The Chinese Government's perceived incompetence and the Greek debt crisis are scaring plenty of investors in Asia. About 30% of Chinese shares had fallen since mid-June. China continues to suffer from a slow economy despite Beijing's attempt to support its market.
Japan's Nikkei Stock had fallen by 2% to a seven-week low due to China's aggressiveness in the territory and the stronger Japanese currency.

Sumitomo Mitsui Trust Bank Senior Market Economist Ayako Sera said Greece has become a background in investor fears as more of them worry about China's economy and slumping stocks. She said Shanghai's early losses were "cliff-dives" that affected investor sentiment directly.

However, investors still continue to fear about Greece's mountain of debt. It was given an ultimatum by the European Union to create a bailout deal by Sunday or it will meet regarding containing the possible fallout of a Greek exit.


The situation in both Asia and Europe had dropped 0.4% from the US dollar.