Overseas Trading: Nikkei's New High; Greece's New Obstacle

Reports are circling that Greece's reform measures have been rejected by international creditors

by Karee Venema

Published on Jun 24, 2015 at 8:13 AM
Updated on Jul 13, 2020 at 4:03 PM

Greece continues to drive global markets, with Asian benchmarks settling higher on hopes a financial agreement will be reached before the fiscally strapped nation's June 30 debt repayment deadline. In China, another volatile session sent the Shanghai Composite 2.5% higher, thanks to a rally in real estate names and a flood of bullish headlines from government-run media outlets. Meanwhile, Japan's Nikkei added 0.3% -- and hit an 18-year high along the way -- after the Bank of Japan's meeting minutes signaled optimism over an economic recovery. Hong Kong's Hang Seng also tacked on 0.3%, while South Korea's Kospi rose 0.2%.

European markets are mixed at midday, following reports that eurozone finance ministers rebuffed Greece's latest debt proposal. Eurogroup officials are slated to meet later today to discuss the reform measures. On the economic front, Germany's Ifo business climate survey declined in June, while France's first-quarter gross domestic product (GDP) rose 0.6%. At last check, London's FTSE 100 is up 0.3%, while the French CAC 40 is down 0.4%, and the German DAX is off 1%.

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