Asian Markets Collapse On China, Greece Fears

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, July 8, 2015, 8:52 [IST]

Asian markets plunged in trade with the Shanghai Composite diving 5 per cent, the Hang Sang falling 4 per cent and the Japanese Nikkei down 2 per cent in trade on fears over the debt crisis in Greece and falling share prices in China.

Chinese markets have virtually seen a collapse in the last few weeks falling as much as 30 per cent since the beginning of June. Authorities have eased several measures including margin trading, but, this has failed to calm nerves. Many small and retired investors have lost heavily in the carnage.

Meanwhile, Greece debt worries continues to haunt markets. According to reports the Greece government has until Friday morning to present a detailed proposal, which are likely to be considered by Sunday or facing the prospect of being ejected out of the Eurozone.

Markets across the globe may continue to see pressure in the next few days and investors are cautioned to stay away from the markets.

Indian markets have remained resilient all through the collapse in stock prices around the globe and it would be interesting to see how long they remain resilient.

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