Investors brace for fallout from Greek vote

Investors brace for fallout from Greek vote

TOKYO (AP) — Greece's foray into the unknown with its rejection of terms set by its international creditors is jolting markets as investors reacted to looming uncertainties.

Australia's ASX S&P 200 fell 1.4 percent to 5,462.60 shortly after trading began early Monday, while New Zealand's benchmark dropped 0.6 percent to 5,808.75. Markets across Asia were expected to likewise take a hit from the news.

With 97 percent of the votes counted, results showed 61 percent of Greek voters opted to reject the demand for further austerity measures, while 38 percent said "yes."

p>A summit of euro zone leaders was due Tuesday to discuss next steps. While Greece's economy is relatively small, the vote could result in it abandoning the euro if the country must issue its own currency to alleviate a cash crunch.

Source: “Associated Press”