U.S. stock indices posted mixed results on Friday. Dow Jones gain was caused by an over 4% increase by Nike due to strong quarterly results. Market participants were cautious about the future of Greece as European leaders were supposed to hold another meeting on Saturday. Later on media reported that the Eurogroup refused to extend Greece's financial aid program without a clear reforms plan. Thus Greece might default on its €1.6 billion payment to the IMF, which is due June the 30th.
Media also reported that Greece's PM Alexis Tsipras announced a referendum. The country's citizens will be asked to express their opinion on relations between Greece and its lenders when the referendum is held on July the 5th. Tsipras recommended objecting lenders' austerity proposals.
The International Monetary Fund has also refused to provide additional funds.
The Dow Jones industrial average rose by 56.32 points, or 0.31%, to 17,946.68. The Standard & Poor's 500 declined by 0.82 points, or 0.04%, to 2,102.31. The Nasdaq Composite fell by 31.68 points, or 0.62%, to close at 5,080.51.
On Monday morning Hong Kong Hang Seng fell by 3.22%, or 859.61 points, to 25,804.26. China Shanghai Composite Index dropped 5.82%, or 243.99 points, to 3,948.88. Meanwhile the Nikkei declined by 2.45%, or 506.56 points, to 20,199.59.
Asian stocks fell amid absence of Greece's deal. Especially this concerns to companies dealing with Europe.
On Saturday China's central bank cut both its one-year benchmark lending rate and its one-year benchmark deposit rate by 25bp to 4.85% and 2.0%, respectively. This decision was made after a sharp selloff in China stocks market.