Asian markets decline as Greece debt concerns grow (AP) (22-04-2010)

HONG KONG (AP) – Most Asian stock markets declined on Thursday after following the lackluster finish on Wall Street, and as concerns grew again about Greece's debt crisis affecting confidence in a world recovery. European stocks were inching up shortly after the open.

Major Asian markets sank as much as 2 percent after ending the previous session up, though recouped some of their losses later in the day.

Investors grew more cautious after Greece's borrowing costs jumped to record highs Wednesday as the government began crucial talks on the details of a rescue package orchestrated by the eurozone and the International Monetary Fund. The country's debt woes have raised fears of a contagion and dragged Europe's shared currency sharply lower in recent months.

Leading Asia's decline was Japan, where the Nikkei 225 stock index dropped 140.96 points, or 1.3 percent, to 10,949.09. News that the nation's exports expanded for a fourth straight month in March did little to lure buyers to the market.

Elsewhere, Hong Kong's main stock index shed 0.3 percent to 21,454.94 and South Korea's Kospi lost 0.5 percent to 1,739.52. China's Shanghai index retreated 1.1 percent to 2,999.48. Markets in Australia and Taiwan also sputtered lower.

Source: AP