Asia bags yield, euro falls then the ECB adopts hard line on Greek debt
By Shinichi Saoshiro
Tokyo (Reuters) - the majority of Asia bags ceded and the euro fell on Thursday once the European Central Bank said that it would not accept Greek bonds as collateral, a strong response to the efforts of Athens to renegotiate the terms of the bailout with creditors.
The appetite for risk, which had stoked earlier this week by expectations that Greece would quickly gain relief from their creditors, was cooled once the ECB abruptly withdrew his gentle treatment of the Greek debt and canceled its acceptance of the bonds of the country as a guarantee.
In Japan, the Tokyo Stock Exchange Nikkei index, which rose 2 percent on the previous day, fell 0.8 percent on Thursday.
Korea of the South, Malaysia and Singapore shares also weakened significantly. The MSCI index of Asian shares outside Japan remained a 0.1 percent after climbing 1 per cent the previous day.
Chinese Equities broke the trend, and the Shanghai composite index added 1 percent, after the central bank reduced the level of reserves that banks must hold.
The decision on Wednesday, which seeks to encourage Bank lending and boost china's weakened economy, failed to raise mood in the rest of the region.
Investors also away from the risk after an extended rebound of oil is sold out. Wall Street cut a rebound in two days on Wednesday, pressured by a drop in energy shares.
Crude oil registered the day before one of their biggest daily fall of which there is record after United States oil inventories climbed to record highs, which put an end to a four-day advance.
United States oil futures fell 0.3 percent, to 48,31 dollars barrel, after sinking a 9 per cent on Wednesday.
In currency markets, the euro quoted at 1,1348 dollars, after falling to 1,1304 units. Against the Japanese currency, the dollar showed little variation to 117,215 yen.
(Additional report of Jongwoo Cheon in Singapore. Published in Spanish by Carlos Aliaga)
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