Greek doubts fuel Asian stocks slide

Asian stock markets were mostly lower today as investors fretted over the details of a deal to save Greece from financial collapse and preserve its place among nations that use the euro.

Japan bucked the trend as the yen weakened, boosting exporter shares.

Hong Kong’s Hang Seng fell 0.8% to 21,380.26 and South Korea’s Kospi lost 1.2% to 2,005.30.

Australia’s S&P/ASX 200 dropped 0.4% to 4,275.60. Benchmarks in Indonesia, Singapore and Taiwan were also lower.

But Japan’s 225 Nikkei added 0.2% to 9,569.63 as the dollar traded near a seven-month high against the yen.

That is a positive sign for Japan’s powerhouse exporters, which have struggled amid a prolonged period of strength in the yen.

Wall Street was lower yesterday, a day after the Dow Jones industrial average hit 13,000 for the first time in nearly four years.

Analysts said investors are sifting through conflicting signals about the US economy, Chinese growth and the longevity of the euro in deciding whether to buy or sell.

“Equity markets globally now seem to have reached an interesting inflection point, having gotten off to a great start to the year,” said Cameron Peacock of IG Markets in Melbourne, Australia.