Investing.com - Asian stocks fell on Wednesday after former Greek Prime Minister Lucas Papademos said Greece can't rule out talk that neighboring countries are bracing for a Greek exit of the eurozone.
A World Bank decision to cut China's 2012 growth forecast to 8.2% from 8.4% also pushed stock prices down.
Meanwhile in Tokyo, the Bank of Japan left interest rates unchanged at 0-0.1% but held off on rolling out monetary stimulus measures, which ended in April.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 1.35%, Australia's S&P/ASX200 was down 1.05%, while Japan’s Nikkei 225 Index was down 1.34%.
From Greece, Papdemos told CNBC that his country had no plans to exit the eurozone, although he "cannot exclude the possibility" that other countries were making contingency plans for such an event, clarifying his other comments to various newswires that quoted him as saying that exiting the euro was a real possibility.
Greece goes to the polls on June 17 to elect a new parliament, and sentiments are building that the leftist Syriza political party will make a strong showing.
After a May 6 ballot, Syriza politicians refused to take part in a coalition government due to their opposition to austerity measures, which Greece had accepted in exchange for bailout money.
Syriza holdouts forced the country to hold new elections in June.
Reports that the World Bank has cut China's 2012 GDP Growth Forecast to 8.2% from 8.4% also pressured stocks down, as China serves as a key export market for many Asian Pacific countries.
An Organization for Economic Cooperation and Development report forecasting rising unemployment rates for Australia weakened equities as well.
In Hong Kong, the top decliners included Sino Land, down 4.52%, COSCO Pacific, up 3.80%, and Li & Fung, down 3.54%.
In Australia, the top decliners included Linc Energy, down 9.49%, Myers Holdings, down 6.22%, and Gryphon Minerals, down 5.63%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.39%, while Germany's DAX 30 futures signaled a loss of 0.46%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.36%.
Dow Jones Industrial Average futures were down 0.41% while the S&P 500 futures were down 0.43%.
Stocks will continue to track Greek uncertainty as well as comments out of the Bank of Japan at a press conference later Wednesday, where monetary policy authorities may address the need for stimulus measures down the road.
A World Bank decision to cut China's 2012 growth forecast to 8.2% from 8.4% also pushed stock prices down.
Meanwhile in Tokyo, the Bank of Japan left interest rates unchanged at 0-0.1% but held off on rolling out monetary stimulus measures, which ended in April.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 1.35%, Australia's S&P/ASX200 was down 1.05%, while Japan’s Nikkei 225 Index was down 1.34%.
From Greece, Papdemos told CNBC that his country had no plans to exit the eurozone, although he "cannot exclude the possibility" that other countries were making contingency plans for such an event, clarifying his other comments to various newswires that quoted him as saying that exiting the euro was a real possibility.
Greece goes to the polls on June 17 to elect a new parliament, and sentiments are building that the leftist Syriza political party will make a strong showing.
After a May 6 ballot, Syriza politicians refused to take part in a coalition government due to their opposition to austerity measures, which Greece had accepted in exchange for bailout money.
Syriza holdouts forced the country to hold new elections in June.
Reports that the World Bank has cut China's 2012 GDP Growth Forecast to 8.2% from 8.4% also pressured stocks down, as China serves as a key export market for many Asian Pacific countries.
An Organization for Economic Cooperation and Development report forecasting rising unemployment rates for Australia weakened equities as well.
In Hong Kong, the top decliners included Sino Land, down 4.52%, COSCO Pacific, up 3.80%, and Li & Fung, down 3.54%.
In Australia, the top decliners included Linc Energy, down 9.49%, Myers Holdings, down 6.22%, and Gryphon Minerals, down 5.63%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.39%, while Germany's DAX 30 futures signaled a loss of 0.46%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.36%.
Dow Jones Industrial Average futures were down 0.41% while the S&P 500 futures were down 0.43%.
Stocks will continue to track Greek uncertainty as well as comments out of the Bank of Japan at a press conference later Wednesday, where monetary policy authorities may address the need for stimulus measures down the road.