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18 Mar 2013
Asian markets fall on Cyprus bailout measures
FXstreet.com (Barcelona) - The headlight of the weekend was the EU €17B bailout decision for Cyprus that will be partly funded by a one-off levy on bank deposits (9.9% for deposits over €100k and 6.75% for deposits less than 100k, raising €5.8b). Such measures will go for a vote today at the Cypriot parliament.
Mainland China's Shanghai Composite (-1.72%), Hong Kong's Hang Seng (-2.25%), South Korea's Kospi (-0.92%) and Japan's Nikkei Stock Average (-2.71%) fell on Monday in reaction to Cyprus like the other Asian equity indexes did. Also, China's House Price Index rose from 0.8% to 2.1% in February, concerning investors afraid of a housing bubble.
Futures for the German DAX (-1.52%) and the French CAC 40 (-1.71%) are signaling a lower opening ahead of the European session and trade balance data.
Mainland China's Shanghai Composite (-1.72%), Hong Kong's Hang Seng (-2.25%), South Korea's Kospi (-0.92%) and Japan's Nikkei Stock Average (-2.71%) fell on Monday in reaction to Cyprus like the other Asian equity indexes did. Also, China's House Price Index rose from 0.8% to 2.1% in February, concerning investors afraid of a housing bubble.
Futures for the German DAX (-1.52%) and the French CAC 40 (-1.71%) are signaling a lower opening ahead of the European session and trade balance data.