Asian Stock Markets Report Muted Gains Despite Greece’s Debt Problems

Earlier today, Asian stock markets posted muted gains due to concerns over Greece’s surging debt problems.

Oil prices fell below $101 per barrel, as traders anticipated a further increase in US’ weekly crude inventories due to decreasing demand. It helped energy shares but hurt airline stocks. Japan’s largest energy explorer, Inpex Corp., gained 1.2 percent, while All Nippon Airways dropped to the same amount. On the other hand, Japan’s Nikkei was up to 0.1 percent following a sluggish opening, with shares from Chubu Electric Power Co. which raised to 1.9 percent. The Japanese utility agreed to a government request to shut down three nuclear reactors at the Hamaoka Coastal Power Plant, while it builds a seawall and upgrades other tsunami defenses.

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