Asian markets down on Greek fears

Asian investors are concerned Greece will default on its debt obligations.

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By :  ,  Financial Analyst

Asian investors are looking nervously towards Greece as concerns grow about whether the European nation will default on its debt.

The country was recently taken over by the anti-austerity party Syriza and it has prompted questions over the debt owed by Greece following the bailout from the European Union during the economic downturn.

These concerns saw Asian markets slip on Tuesday (February 10th) but Shanghai was boosted by Chinese data showing inflation to be at its lowest level in over five years.

Across the region, Tokyo was down 0.33 per cent to 17,652.68, Seoul fell by 0.57 per cent to 1,935.86 while Sydney declined 0.25 per cent to 5,800.57.

It was a different story in China where Shanghai edged up 1.5 per cent to 3,141.59 while Hong Kong remained flat at 24,528.10.

Investors in Asia will be continuing to look to the West to see how the story with Greece and the eurozone unfolds.

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