Concerns over greek crisis push european markets down again, butasia rises on japan growth

That would result infinancial disaster for Greece and send shockwaves through Europeanmarkets, destabilizing other weak countries. If an anti-bailout government is eventually established, it willset up a showdown with the country's creditors over the terms ofthe rescue loans. Germany and other European governments have sofar shown little inclination to agree to a significant softening inGreece's austerity program. As a result, the new elections are shaping up as a referendum onwhether Greeks want their country to stay in the eurozone or not. "The recent political paralysis has now brought Greece to whatcould prove to be the worst stage of its crisis," said AthanasiosVamvakidis, an analyst at Bank of America Merrill Lynch.

"Althoughpolls in Greece show very strong support for the euro, we believethat the current situation could trigger a chain of events thatcould lead Greece to exit on its own." Adding to losses over the past two weeks, Britain's FTSE 100 fell1.1 percent to 5,348.48 while Germany's DAX fell 0.6 percent to6,346.88 and France's CAC-40 lost 0.9 percent to 3,022.54. The eurofell 0.1 percent to $1.2697, close to the yearly lows last hit inJanuary. Spain saw the sharpest drop, with the Ibex down 1.5 percent, asinvestors fear it would be the most destabilized by a Greek exitfrom the euro. A local report that depositors were drawing moneyout of the country's fourth-largest bank, Bankia, sent shares inthe now-nationalized lender down 18.4 percent.

Spain's bond yields were also high, edging up to 6.29 percent forthe 10-year note, an indication investors are worried about thecountry's financial future. In the U.S., stocks were set for a moderately higher opening thanksto momentum from Wednesday, when economic indicators provedsurprisingly upbeat — construction of homes in April rose 2.6percent from March, and U.S. factory production increased 0.6percent in April, helped by a gain in auto production. Ahead of the bell, Dow Jones industrial average futures were up 0.1percent at 12,590 while S&P 500 futures rose 0.1 percent to1,324.30. In Asia, markets enjoyed a slight rebound as investors wentbargain-hunting after better-than-expected growth figures for thefirst quarter in Japan.

Tokyo's Nikkei 225 climbed 0.9 percent to close at 8,876.59 as thedollar was stable at 80.29 yen. South Korea's Kospi added 0.3 percent to 1,845.24. Benchmarks inTaiwan, New Zealand and the Philippines also rose. Australia'sS&P/ASX 200 slipped 0.2 percent to 4,157.40 and Hong Kong'sHang Seng closed 0.3 percent down at 19,200.93.

Mainland Chinese shares bounced back from early losses, buoyed bycalls from the country's central bank governor, Zhou Xiaochuan, formarket reforms. The benchmark Shanghai Composite Index rose 1.4 percent to2,378.89. The Shenzhen Composite Index also gained 1.4 percent to954.95. Shares in brokerages, financial and trading-relatedcompanies led the gains. Benchmark oil for June delivery was up 22 cents to $93.03 perbarrel in electronic trading on the New York Mercantile Exchange.On Wednesday, the contract fell by $1.17 to finish at a seven-monthlow of $92.81 per barrel in New York.

___ Pamela Sampson in Bangkok and Fu Ting in Shanghai contributed tothis report.

We are high quality suppliers, our products such as Lava Tube E Cigarette Manufacturer , EGO CE4 Electronic Cigarette Manufacturer for oversee buyer. To know more, please visits EGO W Electronic Cigarette.

Related Articles - Lava Tube E Cigarette Manufacturer, EGO CE4 Electronic Cigarette Manufacturer,

Email this Article to a Friend! Receive Articles like this one direct to your email box! Subscribe for free today!