The Asian stock markets are expected to open lower again on Tuesday thanks to lingering concerns about the political uncertainty in Greece. The debt-plagued nation could be forced to hold a new round of elections due to lawmakers' inability to form a coalition government.
As political parties in Greece have failed to form a coalition government, fresh elections would mean weeks of uncertainty in the Eurozone over Greece's continued membership in the single currency zone.
The downside in Asia may be limited by bargain-hunting, however, following heavy damage in the previous session.
The U.S. markets finished sharply lower on Monday as the Dow fell 125.25 points or 1 percent to finish at 12,695.35, while the NASDAQ dropped 31.24 points or 1.1 percent to end at 2,902.58 and the S&P 500 slid 15.04 points or 1.1 percent to 1,338.35.
The major European markets also fell on Monday as the German DAX lost 1.94 percent, while the French CAC 40 dropped 2.29 percent, the UK's FTSE 100 fell 1.97 percent and Switzerland's SMI retreated 1.33 percent.
The Asian markets were mostly lower on Thailand plummeted 2.14 percent, while Indonesia retreated 1.5 percent, Hong Kong's Hang Seng Index lost 1.2 percent, Singapore's Straits Times dropped 0.67 percent, China's Shanghai Composite lost 0.60 percent, Malaysia fell 0.58 percent, Taiwan was down 0.32 percent and South Korea's KOSPI eased 0.18 percent. Japan's Nikkei added 0.2 percent.
by RTT Staff Writer
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