INQUIRER.net: Asian stocks slip over effects of Cyprus bailout

INQUIRER.net Philippine News for Filipinos

Asian stocks slip over effects of Cyprus bailout Mar 26th 2013, 03:53 BANGKOK  — Asian stock markets fell Tuesday as relief turned to worry over a bailout that prevents Cyprus from going bankrupt. The bailout, signed and sealed Monday by European finance ministers, initially alleviated fears of a possible collapse of Cyprus' banking system. But soon worries arose over the terms of the deal: it requires a banking overhaul and big losses for bondholders and depositors. Japan's Nikkei 225 index fell 0.2 percent to 12,516.92. Hong Kong's Hang Seng lost 0.7 percent to 22,094.44. Australia's S&P/ASX 200 dropped 0.9 percent to 4,947.60. South Korea's Kospi rose 0.3 percent to 1,984.19. Concern intensified late Monday after a key official indic... Keep on reading: Asian stocks slip over effects of Cyprus bailout Media files: stocks9.jpg (image/jpeg)

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