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Asian shares mixed as Greece overshadows China monetary moves

Published 02/04/2015, 11:58 PM
Updated 02/05/2015, 12:00 AM
© Reuters. Asian shares mixed
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Investing.com - Asian shares held mixed on Thursday with the Shanghai Composite up nearly 1% following a late Wednesday easing of policy by the People's Bank of China, while other markets lagged as Greece worries overshadowed regional trends.

Late Wednesday, the European Central Bank abruptly cancelled its acceptance of Greek bonds in return for funding. The move means the Greek central bank will have to provide its banks with tens of billions of euros of additional emergency liquidity in coming weeks.

China's late Wednesday move to cut the amount of cash banks keep in reserve to 19.5% from 20.0%, also played out on the currency market Thursday as Beijing moves to boost lending and spur economic activity in the world’s second largest economy.

The Nikkei 225 edged down 0.90% despite Sony Corp surging to its daily trade limit after the Japanese consumer electronics and entertainment group said its annual net loss will likely be smaller than previously forecast.

The S&P/ASX 200 rose 0.60% on mixed retail sales data that pointed to higher than expected growth in the fourth quarter, but lagged on the month.

U.S. stocks were mixed after the close on Wednesday, as gains in the Consumer Services, Telecommunications and Technology sectors led shares higher while losses in the Oil & Gas, Health Care and Utilities sectors led shares lower.

At the close in New York, the Dow Jones Industrial Average rose 0.04%, while the S&P 500 index fell 0.42%, and the NASDAQ Composite index fell 0.23%.

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