Asian markets slip on Greece bailout fears

HONG KONG: Asian markets fell Friday as traders grew nervous over Greece's chances of avoiding a default after eurozone chiefs withheld a new bailout and ordered Athens to agree more swingeing cuts.

The decision to put off ratification of the rescue cash gives Greece just under a week to meet three new criteria and came despite the country's politicians finally agreeing on other austerity measures.

Tokyo slipped 0.25 percent, Hong Kong shed 0.40 percent, Sydney was 0.55 percent off, Seoul gave up 0.86 percent and Shanghai was down 0.17 percent.

Despite Greek politicians agreeing after lengthy talks on a tough set of cuts demanded by international lenders Finance Minister Evangelos Venizelos was told by Brussels more needed to be done to qualify for the 130-billion-euro ($171 billion) bailout. (AFP)