Market Report – Asia Shakes off Greece Downgrade

In today’s market report… most Asian share markets shook off worries about European debt on Tuesday, following the downgrade of Greece’s rating to junk status.

Moody’s overnight cut in Greece’s credit rating, which followed other rival agencies, sparked mild profit-taking, but most regional markets recovered from daily lows.

The downgrade did weigh on the euro, which remained vulnerable to any negative news from the continent, although the single currency was flat against the yen.

Japan’s Nikkei added slightly to a three-day winning streak, flirting again with the psychological 10,000 yen level.

Broker Nomura Securities provided support, after Credit Suisse upgraded the financial stock to „outperform.“

Taiwan Semiconductor rose after the world’s top contract chip maker said it expected global sales to rise 7 percent a year through 2016.

China remained on holiday, but the Agricultural Bank of China is looking to raise $23 billion in what may be the world’s top IPO this year.

Foto: NTDTV