HONG KONG, Feb 10: Asian markets fell on Friday as traders grew nervous over Greece’s chances of avoiding a default after eurozone chiefs withheld a new bailout and ordered Athens to accept more swingeing cuts.

Sydney closed down 0.88 per cent, or 37.6 points, at 4,245.3, Tokyo ended 0.61 per cent, or 55.07 points, off at 8,947.17 and Seoul finished 1.04 per cent lower, or 20.91 points, at 1,993.71.

In the afternoon, Hong Kong shed 1.08 per cent, or 226.15 points, to 20,783.86 while Shanghai ended up 0.1 per cent, or 2.39 points, at 2,351.98.

Markets reacted little after China said its January trade activity fell to its lowest level since 2009 during the global financial crisis, amid turmoil in the country’s key export markets and slowing domestic demand.

Analysts said the data (exports fell 0.5 per cent year-on-year to $149.94 billion while imports plunged 15.3 per cent to $122.66 billion) was distorted by the earlier than usual Lunar New Year holiday last month.

“The trade data is not affecting the market much because investors know it was distorted by the Lunar New Year holiday,” Minsheng Securities analyst Zhang Lei told Dow Jones Newswires.

Taipei fell 0.61 per cent, or 48.51 points, to 7,862.27. Hon Hai fell 1.45 per cent to Tw$102 while TSMC was 1.41 per cent lower at Tw$76.9.

Kuala Lumpur closed down 0.23 per cent, or 3.66 points, at 1,561.66. Gaming giant Genting lost 1.53 per cent to 10.3 ringgit, automaker DRB-HICOM fell 5.1 per cent to 2.98 ringgit, and telecom Axiata Group climbed 0.4 per cent to 4.99 ringgit.Singapore shares lost 0.71 per cent, or 21.17 points, to 2,960. Jardine Cycle and Carriage fell 0.61 per cent to Sg$48.7 and Olam International shed 2.94 per cent to Sg$2.64.

Indian shares fell 0.46 per cent, or 82.06 points, to 17,748.69. Aluminium producer Hindalco fell 3.62 per cent to 153 rupees while automaker Maruti Suzuki slid 1.99 per cent to 1,245.25 rupees.

Manila closed 0.29 per cent higher, or 13.9 points, to 4,783.52. BDO Unibank gained 1.88 per cent to 62.4 pesos, while Metropolitan Bank and Trust added 0.5 per cent to 80.9 pesos.

Indonesian shares ended 1.7 per cent, or 66.59 points, lower at 3,912.39. Bank Central Asia fell 4.4 per cent to 7,550 rupiah, while food manufacturer Indofood Sukses Makmur fell 3.4 per cent to 4,975 rupiah.

Bangkok dropped 0.38 per cent, or 4.26 points, to 1,112.91. Coal producer Banpu fell 1.26 per cent to close at 626 baht and PTT Plc shed 0.85 per cent to 348 baht.

Wellington gained 0.64 per cent, or 21.4 points, to 3,348.13. Fletcher Building rose 2.3 per cent to NZ$6.73, Contact Energy was up 2.7 per cent at NZ$4.94 and Telecom was 0.46 per cent off at NZ$2.15.—AFP