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.
