HONG KONG: Asian markets slipped for a third straight day Wednesday as dealers nervously await Greece's crucial debt swap while sentiment was also hit eurozone officials saying the region was in recession.
The yen continued a rebound from recent losses as risk-aversion returned to the trading floors, while worse-than-expected Australian growth added to the glum atmosphere.
Tokyo was 0.74 percent lower by the break, Hong Kong lost 0.91 percent, Sydney was 0.89 percent off, Shanghai shed 0.39 percent and Seoul gave up 0.88 percent.
Global shares have been falling all week following China's announcement that it was expecting growth to slow further this year due to a fall in exports caused by slackening demand in the key US and European markets.
But attention is now focused back on Europe, where investors are hoping enough of Athens' private creditors sign up for the debt swap - essentially a 107-billion-euro ($140 billion) writedown of their bonds. (AFP)
The yen continued a rebound from recent losses as risk-aversion returned to the trading floors, while worse-than-expected Australian growth added to the glum atmosphere.
Tokyo was 0.74 percent lower by the break, Hong Kong lost 0.91 percent, Sydney was 0.89 percent off, Shanghai shed 0.39 percent and Seoul gave up 0.88 percent.
Global shares have been falling all week following China's announcement that it was expecting growth to slow further this year due to a fall in exports caused by slackening demand in the key US and European markets.
But attention is now focused back on Europe, where investors are hoping enough of Athens' private creditors sign up for the debt swap - essentially a 107-billion-euro ($140 billion) writedown of their bonds. (AFP)