The Asian stock markets are expected to open lower again on Thursday, thanks to persistent concerns over the political situation in Greece as people withdrew as much as 700 million euros from Greek banks amid the uncertainty.
The new round of elections in Greece will reportedly be June 17, after leaders in Athens failed to produce a coalition government. The news triggered doubts regarding the country's international aid and rekindled worries that Greece could exit from the euro currency bloc.
Adding to the negative sentiment, the Bank of England said in its quarterly inflation report that U.K. growth will remain unusually uncertain with headwinds blowing from the Eurozone debt crisis.
Providing support is U.S. economic data that showed a bigger than expected increase in industrial production in April. In addition, U.S. housing starts came in above estimates in April, despite a sharp drop in building permits.
The major U.S. averages all were lower on Wednesday as the Dow slipped 33.45 points or 0.3 percent to finish at 12,598.55, while the NASDAQ fell 19.72 points or 0.7 percent to end at 2,874.04 and the S&P 500 dropped 5.86 points or 0.4 percent to 1,324.80.
The major European markets were mixed on Wednesday as the DAX of Germany closed lower by 0.26 percent and the FTSE 100 of the U.K. lost 0.60 percent. The CAC 40 of France increased by 0.31 percent and the SMI of Switzerland added 0.13 percent.
The Asian markets finished sharply lower on Wednesday as Hong Kong plummeted 3.19 percent, while South Korea plunged 3.08 percent, Australia shed 2.35 percent, Taiwan dipped 2.18 percent, India fell 1.83 percent, Indonesia retreated 1.61 percent, Malaysia was down 1.60 percent, Singapore declined 1.58 percent, China lost 1.21 percent, Japan and Thailand both dropped 1.12 percent and New Zealand eased 0.58 percent.
Finally, the market in Indonesia is closed on Thursday and Friday for the Ascension. It will re-open on Monday.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.