Asian stocks settled higher, while European equities continue to struggle
Stocks in Asia reversed higher after
Monday's drubbing, as traders shrugged off reports that Greece is set to default on its roughly $1.7 billion loan repayment to the International Monetary Fund (IMF),
due today. Particularly notable was the Shanghai Composite's 5.5% pop, as regulators scrambled to prop up the
flailing stock market via a potential suspension of initial public offerings, and new rules allowing pension funds to buy equities. Elsewhere, Hong Kong's Hang Seng tacked on 1.1%, Japan's Nikkei added 0.6%, and South Korea's Kospi ended 0.7% higher.
European bourses are once again struggling amid ongoing
worries of a "Grexit," despite at least one source claiming last-minute negotiations may resume between Athens and its creditors. At last check, the French CAC 40 and German DAX are down 0.4% and 0.3%, respectively. Also, London's FTSE 100 has lost 0.6%, despite an upwardly revised first-quarter gross domestic product (GDP).
