Asian Stocks Fall; Greece Bailout Concerns
NEW YORK (TheStreet) -- Asian stocks ended mostly lower Thursday after debt-laden Greece said it might have to seek funding from the International Monetary Fund if European countries don't come to its aid.
In Tokyo, the Nikkei 225 stock average closed down by almost 1% to 10,744.03. The Hang Seng index in Hong Kong fell 0.4% and the Shanghai Composite declined 0.3%.
An unidentified senior Greek official told Dow Jones the government didn't think it would receive help from EU partners at a summit next week.
"We still want a solution within the European Union, but it doesn't look good," the official told Dow Jones. "If there is no clear support at the EU summit on March 25, we will have to decide where to go next."The official said the "most prominent" scenario would be Greece seeking aid from the IMF. The euro weakened on the news. Premarket futures suggested stocks would open lower on Wall Street Thursday, a day after U.S. stocks rose for a seventh-straight day. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV