TOKYO: Asian stocks were uneven Thursday as hopes in Europe for a Greek bailout were welcomed by some regional markets and a cheap yen kept the upswing in Tokyo shares going.
Japan’s benchmark Nikkei 225 rose 0.7 percent to 20,609.28; the index is up nearly 10 percent in the past three months as exporter stocks benefit from a cheap yen. Australia’s S&P/ASX 200 edged down 0.4 percent to 5,702.10 while South Korea’s Kospi gained 0.7 percent to 2,121.66. Hong Kong’s Hang Seng lost 1.1 percent to 27,769.95 and the Shanghai Composite dropped 0.9 percent to 4,898.90. Southeast Asian markets fell while Taiwan and New Zealand rose.
Greece might miss a debt payment on June 5 if it fails to receive bailout funds from creditors, who are demanding that the country make reforms to its economy. It is still unclear whether an agreement can be reached in time, but European shares got a lift from players counting on a deal being reached.
