Asian markets jittery over Greece woes, China rally fizzles

HONG KONG: Concerns about Greece’s plans to renegotiate its bailout rattled Asian markets on Thursday and put pressure on the euro, while Shanghai and Hong Kong reversed early gains despite China cutting the amount of funds banks must hold in reserve.

Traders mostly took their cue from New York, which was hit by news that the European Central Bank would not allow Greek lenders to use government bonds to borrow cash, cutting off much-needed access to liquidity.