الثلاثاء , مايو 18 2021

Asian shares up on Greek deal hopes

Japanese shares

Japanese shares led the region’s gains in early trade

Asian shares were higher on hopes for a deal for Greece despite an emergency summit ending again with no resolution and more deadlines in the debt crisis.

Uncertainty about Greece’s future in the bloc led to the euro to fall initially, down to $1.09. But it recovered losses to trade at $1.1134.

Investors were also cautious ahead of trading in China – which last week began to recover some ground after losing a third of their value since mid-June.

The Nikkei was up 0.8% at 19,929.56.

The euro fell 1% to a low of 135.45 Japanese yen in early trade, but bounced up to 136.35 on rumours that the European Central Bank had agreed to delay a Greek repayment of 3.5bn euros, which had been due on 20 July.

In Australia, the SP/ASX 200 index was up 0.05% to 5,494.40 in early trade.

South Korea’s benchmark Kospi index was higher 0.1% to 2,033.04.

Shares of Hotel Shilla jumped nearly 5% after it and partners Hyundai Development Engineering Construction and Hanwha Galleria Timeworld won licences to operate duty-free stores in downtown Seoul.

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