Asian shares fell Thursday, as investors fretted about the possibility of a messy Greek default, although Japanese shares found some support from a relatively weak yen
In Japan, the Nikkei 225 Index deducted 22.24 points, or 0.2%, to close at 9,238.10
In Hong Kong, the Hang Seng Index removed 87.95 points, or 0.4%, to 21,277.30
Reports suggested that some euro-zone nations were considering delaying Greece’s next bailout package until after the country holds elections -- expected to take place in April. At the same time, arrangements would be made to help the country avoid disorderly default, the reports said.
Eurogroup President Jean-Claude Juncker later said he was confident that Greece would get its next tranche of aid by Monday, on schedule.
The dollar bought ¥78.73 yen on Thursday in East Asia, up from ¥78.37 in late North American trading Wednesday and well above its ¥77.60 mark Monday.
The relatively weak yen helped some major Japanese exporters add to their recent advance, as Sharp Corp. climbed 1.1%, and Sony Corp. rose 0.9%.
However, Olympus Corp. lost 2.4% after the arrest of ex-chairman Tsuyoshi Kikukawa and other former executives Thursday in connection with the firm’s unfolding fraud scandal.
Crude-oil prices, which rose during Asian trading hours, helped lift Japan Petroleum Exploration Co. by 2.8%.
But a fourth session of losses for copper futures in New York on Wednesday dented the Australian mining sector, with BHP Billiton Ltd. down 2.2% and rival Rio Tinto Ltd. down 2.3%.
Commodity-exposed firms were also weak in Hong Kong, with Jiangxi Copper Co. down 2.1%, and Aluminum Corp. of China Ltd. down 2.8%.
Resource-focused conglomerate Citic Pacific Ltd. fell 2.3%, while Zijin Mining Group Co fell 3%.
Banks trading lower in Hong Kong on Thursday included Bank of China Ltd., down 1.5%; and HSBC Holdings PLC lower by 0.6%.
Moody’s Investors Service said Wednesday it was placing over 100 financial firms across the world on ratings review due to the euro-zone crisis and other issues.
The global capital markets "are confronting evolving challenges, such as more fragile funding conditions, wider credit spreads, increased regulatory burdens and more difficult operating conditions," Moody’s said.
Earnings were also hitting the Australian banking sector, with retail banking giant Westpac Banking Corp down 3.5% after posting a drop in first-quarter net profit.
Diversified financial firm AMP Ltd. fell 2.3% after reporting a lower fiscal-year profit of its own.
CHINA
China’s central bank said Wednesday in its quarterly monetary-policy report that the country still faces the risk of slower growth and higher inflation and that inflation expectations are "unstable currently."
The Shanghai CSI 300 lost 13.53 points, or 0.5%, to 2,536.07
In other markets;
Taiwan’s Taiex Index jettisoned 135.54 points, or 1.7%, to 7,869.70
Korea’s Kospi Index dropped 27.87 points, or 1.4%, to 1,997.45
Singapore’s Straits Times Index ducked 34.48 points, or 1.1%, to 2,977.20
New Zealand’s NZX 50 Index shed 7.43 points, or 0.2%, to 3,286.45
Australia’s S&P/ASX 200 Index subtracted 71.54 points, or 1.7%, to 4,181.86
