Investing.com - Asian stocks fell on Wednesday as investors grew concerned Greece may be unable to form a coalition government by June, when a bailout tranche is due.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 0.89%, Australia's S&P/ASX200 was down 0.94%, while Japan’s Nikkei 225 Index was down 1.18%.
Greeks went to the polls over the weekend to elect a new parliament, although the country's traditional political organizations failed to garner enough votes to agree on a traditional coalition.
Fringe parties did better than expected, making forming a new government more difficult, and calls from more mainstream leftist parties to reject austerity in exchange for bailout money are growing.
The country is due to receive a tranche of bailout money in June, but fears arose that a new government won't be in place in time and a new round of elections may be called for.
Talk that Greece may scrap the euro as its currency grew during the session, which rattled nerves in Asia, a key exporter to Europe.
In Hong Kong, the top decliners included CHALCO, down 3.67%, Esprit Holdings, down 3.40%, and Tencent, down 3.07%.
Top Australian decliners included Mirabela Nickel, down 18.60%, Energy Worldwide Corporation, down 8.70%, and Eldorado Gold Corporation, down 8.37%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.70%, while Germany's DAX 30 futures signaled a loss of 0.61%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.23%.
Dow Jones Industrial Average futures were down 0.27% while the S&P 500 futures were down 0.36%.
Later Wednesday, Japan will release its Leading Index, a composite index of 12 indicators, as well as the country's bank lending figures.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 0.89%, Australia's S&P/ASX200 was down 0.94%, while Japan’s Nikkei 225 Index was down 1.18%.
Greeks went to the polls over the weekend to elect a new parliament, although the country's traditional political organizations failed to garner enough votes to agree on a traditional coalition.
Fringe parties did better than expected, making forming a new government more difficult, and calls from more mainstream leftist parties to reject austerity in exchange for bailout money are growing.
The country is due to receive a tranche of bailout money in June, but fears arose that a new government won't be in place in time and a new round of elections may be called for.
Talk that Greece may scrap the euro as its currency grew during the session, which rattled nerves in Asia, a key exporter to Europe.
In Hong Kong, the top decliners included CHALCO, down 3.67%, Esprit Holdings, down 3.40%, and Tencent, down 3.07%.
Top Australian decliners included Mirabela Nickel, down 18.60%, Energy Worldwide Corporation, down 8.70%, and Eldorado Gold Corporation, down 8.37%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.70%, while Germany's DAX 30 futures signaled a loss of 0.61%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.23%.
Dow Jones Industrial Average futures were down 0.27% while the S&P 500 futures were down 0.36%.
Later Wednesday, Japan will release its Leading Index, a composite index of 12 indicators, as well as the country's bank lending figures.