Asian Shares Fall as Greek Last Minute Efforts Advance

Asian stock markets headed lower on Thursday as investors stayed on the sidelines while last-minute efforts to avoid a Greek debt default continued.

Late-night talks on Wednesday between Greece and the European Commission, the European Central Bank and the IMF failed to find a solution.

Talks will resume on Thursday, with eurozone finance ministers hoping to endorse a deal when they meet later.

Japan’s Nikkei 225 index ended down 0.4% at 20,771.40.

Japanese car giants Toyota, Nissan and Mitsubishi have expanded a recall of cars to replace airbags made by troubled car parts maker Takata.

The recalls had initially been issued in North America, but have now been extended to the rest of the world.

At a news conference on Thursday following the firm’s annual general meeting, Takata’s chief executive, Shigehisa Takada, apologised to shareholders for the first time since the airbag issues started.
Takata’s shares closed up 0.5%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza