Asian equities at risk of Greek rescue-package fears

The rescue package for Greece can at best delay a reckoning for the entire universe of indebted developed countries. If it is not seen as a success by global investors, it could trigger a risk aversion that will prompt outflows from Asian and emerging stock and bond markets, warns Kirby Daley, senior strategist at Newedge Group in Hong Kong. The strategy of Western governments (and Japan) to deal with the problems of indebtedness has been to borrow more, in the hope that they can buy …