Markets fall after latest Greek debt delay

Shares across Asia dropped overnight as the ongoing Greek debacle continued to hit sentiment.

Japanese and Chinese shares closed in the red, with the Nikkei 225 off 0.15% or 13.4 points, at 9,002, while the Hang Seng fell 0.2% or 33.4 points, to 20,985.1.

The losses came as Greece once again failed to square away terms for its much needed bailout ahead of the impending deadline in March.

It needs to agree a deal before its debt repayments fall due, but it has so far failed to reach a compromise with lenders.

The ongoing Greek crisis, and the contagion risk it poses to other countries, also plagued shares in Europe, with the FTSE 100, French Cac 40 and the German Dax all finishing lower.

The FTSE 100 closed yesterday at 5,875.9, down 14.33 points, or 0.24%, while the Cac fell marginally by 1.5 points or 0.1%, to 3,410.

Meanwhile the Dax shed 5.4 points, or 0.1%, to close at 6,748.8.

However, despite the problems in Europe, shares in the US rose yesterday, with the Dow closing up marginally by 5.8 points, at 12,884, and the S&P 500 up 0.2% or 2.9 points, at 1,350 points.