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Asian shares edged up and the euro sagged in early Asian trading on Tuesday as Greece lurched toward defaulting on a looming debt payment, raising the likelihood of the cash-strapped nation’s exit from the euro zone.
Asian investors were also nervously awaiting the reopening of China’s markets after stocks plunged further on Monday, taking losses to more than 20 percent since their mid-June highs.
Ratings agency Standard and Poor’s cut Greece’s sovereign debt rating one notch further into junk levels to CCC-, saying there was a 50 percent probability it would leave the euro zone.
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Posted in: Indian Market Tips
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