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TOKYO – Asian shares quickly lost early gains and ended slightly lowerMonday morning as optimism over a move by China's central bank toencourage lending were offset by lingering uncertainty aboutcrisis-struck Greece. Japan's Nikkei 225 index ended morning trading barely changed, downmarginally at 8,952.66, erasing an initial surge brought by theChina news. South Korea's Kospi also fell, down 0.6 percent at1,904.74. In China, investors appeared underwhelmed by the reserve rate cut,following the slew of disappointing data late last week. The People's Bank of China announced that the bank reserve ratiorequirement is being reduced a half percentage point as of nextFriday. The move brings the rate down to 20 percent for most majorbanks and effectively frees up billions of dollars for lending. The benchmark Shanghai Composite Index slipped 0.4 percent to2,384.50 while the Shenzhen Composite Index lost 0.3 percent to957.46. Real estate and railway contractors rose on expectations morefunding may be available for projects, with Hong Kong-listed ChinaRailway Construction Corp. up 1.3 percent. Investor nervousness remains rampant because of politicaluncertainty in Greece and a possible fallout to the rest of theregion. Last-ditch efforts by President Karolos Papoulias to broker a dealbetween wrangling party leaders have so far failed, although moretalks to form a coalition are planned for Monday. The chances of success have been diminished after one leftist partypulled out of the talks, leading the country one step closer to newelections — and bringing its continued membership in the eurointo serious doubt. Wall Street ended last week with a decline after JPMorgan said itlost $2 billion on poorly-thought-out trades. The Dow Jonesindustrial average fell 0.3 percent Friday to 12,820.60. Benchmark oil for June delivery was down 60 cents to $95.53 abarrel in electronic trading on the New York Mercantile Exchange.The contract fell 95 cents to settle at $96.13 in New York onFriday. In currencies, the euro dipped slightly at $1.2887 while the dollarwas little changed at 80.03 Japanese yen. ___ AP Business writers Elaine Kurtenbach in Shanghai and Alex Kennedyin Singapore contributed to this report. Follow Yuri Kageyama at Twitter at twitter.com/yurikageyama Elaine Kurtenbach at Alex Kennedy at twitter.com/alexkennedy_ap. I am an expert from continuous-castingmachine.com, while we provides the quality product, such as China Melting Induction Furnace , Continuous Cast Billets Manufacturer, Billet Casting Machine,and more.
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