Replies to post #567838 on $Stock*Shop*Charts*News*Option$

[Tuff-Stuff]

Asia closes down after Greek vote; China bounces back

Asian stocks took a beating today following Greece's vote against austerity, while China bucked the trend due to a salvo of rapid-fire support measures.

Over the weekend, the country's biggest brokerage firms unveiled a government-endorsed plan to buy at least 120B yuan ($19.3B) of shares, while Beijing suspended IPOs until further notice.

About $2.7T in market value has evaporated since the Chinese stock market peaked on June 12. That is six times Greece's entire foreign debt, or 11 years of Greek economic output.

Nikkei -2.1%; Shanghai +2.4%; Hang Seng -3.3%; BSE Sensex -0.7%