RI Investors Watch Greek Crisis

JAKARTA, BLOKBERITA -- Indonesia Stock Market (IDX) president director Tito Sulistio said he was worried that the Greek debt crisis could have a negative impact on the psychological condition of investors in the country.

“ The capital market situation has tended to fluctuate following the Greece crisis. So far, the Chinese stock market has depreciated by around 30 percent. For me, impacts from the Chinese stock market are much more frightening,” Tito said as quoted by Antara on Wednesday. He was speaking in an event in Jakarta on Tuesday.

On Wednesday, Chinese stocks led a slump in Asian markets as the sell-off in Shanghai intensified and Greece's future in the euro remained highly uncertain, the Associated Press reported.

China's Shanghai Composite Index tumbled 4.7 percent to 3,553.47 and Hong Kong's Hang Seng dived 4.3 percent to 23,907.41. Japan's Nikkei 225 lost 1.5 percent to 20,067.59 as the yen strengthened on safe haven buying. South Korea's Kospi was down 1.3 percent at 2,014.22. Other regional markets were also down, including Taiwan, Singapore, Australia and the Philippines.

“ A slew of official measures to provide support to Chinese stock markets have failed to halt a recent sell-off. The Shanghai benchmark is down more than 30 percent since peaking June 12 after a sizzling yearlong rally. Millions of novice investors piled into the market when it was at its most frothy. Some made big profits but the slump has left many with shares worth less than they paid and hoping for a rebound so they can sell,” AP reported.

[ bmw / kontan ]


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