Oil prices fell sharply early on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps to prevent a full-blown stock market crash.
The result of the Greek referendum put in doubt its continued place in the single currency, pulling down the euro <EUR=> in early trading on Monday.
"With Greece reserves running low and no immediate bailout funds on the horizon, Greece is on a straight path out of the euro zone," said Howie Lee of Singapore-based brokerage Phillip Futures.
"Early morning indices' movements have shown the likes of the Nikkei and the STI to have fallen. The selling is likely to spread to European and U.S. markets once they open."
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The result of the Greek referendum put in doubt its continued place in the single currency, pulling down the euro <EUR=> in early trading on Monday.
"With Greece reserves running low and no immediate bailout funds on the horizon, Greece is on a straight path out of the euro zone," said Howie Lee of Singapore-based brokerage Phillip Futures.
"Early morning indices' movements have shown the likes of the Nikkei and the STI to have fallen. The selling is likely to spread to European and U.S. markets once they open."
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