Eurozone uncertainty sees Asian shares fall

People learning how to trade may be aware that a lack of resolution among European leaders has sparked concern in global markets, including a drop in the euro's value and a fall in Asian share prices.

Japan's Nikkei average dropped 1.5 per cent and the MSCI's index of Asia Pacific shares outside Japan slid 2.8 per cent, heading for an aggregate weekly loss of 3.5 per cent, reports Reuters.

European shares are headed for a tumble today (December 9th), according to financial spreadbetters, who predicted the FTSE index would open down by 0.8 per cent.

Sue Trinh, a senior currency strategist at Royal Bank of Canada in Hong Kong, told the news provider markets had succumbed to a fit of nerves.

"The knee-jerk was to the downside, even though we knew every single one of the headlines and there was nothing that we didn't know 24 hours ago," she said.

Paul Brain, manager of the London-based Newton Global Dynamic Bond Fund, predicted a compromise from eurozone policymakers yesterday.
 

Posted by Clive Arneil