Rollercoaster day for Asia shares as Shanghai lifted by data, PBOC

Shares in Asia had a roller coaster day with the Shanghai Composite swinging between gains and losses on a mix of upbeat data and support measures.
The Shanghai Composite was in positive territory, up 1.30%, near the break, while the Hang Seng index rose 3.24% and the S&P/ASX 200 eased 0.42% in a volatile morning marked by regional data flows as well as events over Greece.
The Nikkei 225 fell 0.69% after core machinery orders for May rose 0.6%, well above the expected drop of 5%.
Eurogroup President and European Stability Mechanism Chairman Jeroen Dijsselbloem sent a letter to the top euro zone economic officials asking them to assess Greece's request for a stability loan.
In China, June CPI rose 1.4%, above the 1.3% gain seen, while PPI fell 4.8%, more than the drop of 4.5% expected, indicating an easing in deflationary pressure on the consumer figure, but producer prices are at a four-month low and extend the run of negative growth to a record 40 months, highlighting the problems of widespread industrial overcapacity.
In Australia, the June labour force survey showed a gain of 7,300 jobs, well above a fall of 5,000 jobs month-on-month expected after a strong 42,000 rise in May. The unemployment rate held steady at 6.0% but the labor participation rate rose to 64.8% from 64.7%.
The People's Bank of China on Thursday provided liquidity to China Securities Finance Corp via re-lending at its request, state-run Xinhua News Agency reported.
The PBOC will also let the CSFC issue financial bonds, including short-term commercial paper in the interbank market, and pledged to continue to provide liquidity support to CSFC via various channels. The Shanghai Composite index gained 2.35% in morning trade.
Overnight, U.S. stocks were lower after the close on Wednesday, as losses in the Basic Materials, Oil & Gas and Telecoms sectors led shares lower.
At the close in New York, the Dow Jones Industrial Average fell 1.47% to hit a new 3-months low, while the S&P 500 index lost 1.66%, and the NASDAQ Composite index declined 1.75%.

Gold prices gain in Asia on safety as Greece vote 'No' on bailout terms

Gold rose in Asia on Monday as policy makers set the stage to react to any fallout from the Greek vote at the weekend rejected the bailout terms from international creditors.

Gold futures for August delivery on the Comex rose 0.36% at $1,172 a troy ounce as investors sought safety with the future of Greece's membership in the euro zone in doubt after the vote.

Elsewhere in metals trading, silver futures for September delivery gained 0.18% at $15.683 a troy ounce.

Copper for September delivery however plunged 0.78% to $2.597 a pound.

Asian policymakers in China and Japan and elsewhere braced for any fallout from the Greek 'No' vote at the weekend as Greece's Prime Minister, Alexis Tsipras said Sunday he wanted a quick deal with its creditors and to restore banking sector operations to avert a humanitarian crisis.

Tsipras said that the International Monetary Fund report, released Thursday, which said that the Greek debt was not sustainable, was proof that his government was right on the demand its restructuring.

Greece's Finance Minister, Yiannis Varoufakis, said Sunday that the 'No' vote in the referendum was the peoples' response to five years of austerity and added that creditors never had a real intention to cooperate.

"We had two requirements: to put an end to austerity and to restructure the debt," he said. "Unfortunately, the creditors refused any meaningful discussion and from the first moment planned to shut down our banks in order to impose their positions," he said to reporters.

Gold prices gain in Asia as investors await more Greece debt news

Crude oil prices fell in Asia on Wednesday after U.S. industry group data showed a solid build last week, including for refined products.

The American Petroleum Institute said that U.S. crude stocks jumped 1.875 million barrels last week, while distillates rose 263,000 barrels and gasoline supplies gained 334,000 barrels.

Later Wednesday, the U.S.Department of Energy will release its more closely-watched figures.

On the New York Mercantile Exchange, WTI crude for August delivery eased 0.09% to $58.11 a barrel.

News the Greece had formally missed a debt payment to the IF was accompanied by a request for an extension.

The International Monetary Fund issued the following release on Wednesday in Asia regarding Greece's missed June 30 payment to the Fund.

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece's financial obligations to the IMF due today: