(Reuters) — Asian shares fell on Wednesday (July 8) as investors fretted over Greece’s debt crisis and a recent plunge in Chinese stocks, while the euro steadied.
Euro zone members gave Athens until the end of this week to propose reform measures in order to secure the funding it needs to stay in the euro zone.
Investors nervously awaited the opening of China’s share markets, after they slumped on Tuedsay (July 7) despite a flurry of new market support measures from Beijing.
Japan’s Nikkei stock index fell 0.7 percent to 20282.49 at the opening of trade on Wednesday. The broader Topix was at 1630.89.
South Korean shares fell to a three-week low, falling for a fourth straight session. The Korea Composite Stock Price Index (KOSPI) was down 1.1 percent at 2,016.42 points as of 0204 GMT, the lowest level since June 16.
Australian shares fell sharply, continuing a tumultous run amid concerns about an equity rout in China and fresh doubts that Greece can reach a bailout deal with Europe. A weaker dollar and slump in the iron ore price also contributed to the downward pressure.
The S&P/ASX 200 index was down 87.1 points or 1.6 percent to 5494.3 by 0245 GMT. The benchmark has moved more than one percent in either direction in each session this month, reflecting an increasingly skittish mood.
