The Australian dollar had recovered a little from its overnight low to 74.4 USA cents by 7:30am (AEST). With 76 percent of the votes counted in the Greek referendum on austerity measures required for financial aid, “no” was ahead with 62 percent, data on the Interior Ministry website show. “It’s surprising that the “no” vote won so convincingly, certainly more decisively than the polls had suggested”.
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Stunned European leaders called a summit for Tuesday to discuss their next move as investors fear “Grexit” could encourage anti-euro sentiment in other countries. The survey had a three percentage- point margin of error.
Consumer staples were 1.17 per cent lower. American markets resume Monday following a holiday Friday. South Korea’s Kospi fell 2.4 percent to 2,053.93. The benchmark USA contract tumbled $2.75 to $54.21 a barrel in New York. While the government could easily borrow that amount, it shouldn’t do it indefinitely, he said. The result of the referendum is “to be respected”, the German government’s press office said in an e-mail. The price has dropped almost 16 per cent in just a week. “The Aussie is heading down toward 72 to 73 cents, the only question is how quickly it gets there, and the impact of the Greek referendum on risk assets has given it an extra push”.
Ingenia Communities Group decreased 1.1% to 44 cents after the real estate developer agreed to acquire second lifestyle park in Brisbane for $8.15 million.
The Singapore dollar was down 0.4 per cent.
Likewise, the dollar recouped its early drop on the yen to be all but steady at 122.57.
Second, Greece owes its money to big institutions, not private banks.
Some hopes for progress in the talks grew Monday after Greek Finance Minister Yanis Varoufakis quit.
But wait a few days to check your 401(k), and it’s likely it will make the losses back.
In China, 28 companies halted their IPOs, according to filings to the nation’s two exchanges Saturday.
“If commodity prices continue to fall and Chinese stocks fail to stabilise the RBA could reduce rates in August or December”, she said. Executives from 25 mutual funds vowed to buy shares and hold them for at least a year, according to an industry group association.
The broader All Ordinaries index was up 100.7 points, or 1.84 per cent, at 5,564.0 points.
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Elsewhere in the Asia-Pacific, Australia’s ASX S&P 200 fell 1.4 percent to 5,459.60 and New Zealand’s benchmark slipped 0.8 percent to 5,794.73. The possibility of a significant increase in supply if sanctions against Iran are lifted, together with a strengthening $US have seen oil prices capitulate with potentially negative implications for energy stocks today.
