Traders at the Hong Kong Stock Exchange. The bourse tumbled 1.06%, or 291.73 points, to 27,260.16 yesterday.

AFP/Tokyo

Asian markets mostly sank yesterday, following Wall Street shares lower as the IMF cut its US growth outlook, with traders nervously watching events in Europe after Greece tied up a deal to delay its latest debt repayments.
The euro reversed morning losses to push higher late in the day after Germany’s central bank raised its growth forecasts for the next three years.
Tokyo slipped 0.13%, or 27.29 points, to close at 20,460.90, while Sydney shed 0.11%, or 5.80 points, to 5,498.50 – a fifth-straight loss – and Seoul was down 0.23%, or 4.76 points, at 2,068.10.
Hong Kong tumbled 1.06%, or 291.73 points, to 27,260.16 but Shanghai rose 1.54%, or 75.99 points to 5,023.10 – above 5,000 points for the first time since January 2008.
Wall Street retreated after the International Monetary Fund slashed its forecasts for US growth this year to 2.5% from a previous estimate of 3.1%, citing a ports strike, bad winter weather, a strong dollar and the oil downturn.
Fund head Christine Lagarde also called on the Federal Reserve to refrain from hiking interest rates until 2016, saying conditions were not supportive of a move this year.
On currency markets the dollar was at 124.52 yen against 124.37 yen late Thursday in New York.
The euro rebounded to sit at $1.1260 and 140.48 yen in late trade, from $1.1239 and 139.79 yen in the US.  The single currency was given a boost after the Bundesbank predicted Europe’s biggest economy will grow 1.7% in 2015, by 1.8% in 2016 and 1.5% in 2017. That compares with previous estimates of 1.0% this year and 1.6% next year.
Adding to the upbeat sentiment was a report showing German factory orders climbed for a second month in April.
But eyes remain on Greece after it bought some time on Thursday for further talks by agreeing with the IMF to bundle four looming loan payments into one totalling €1.6bn ($1.8bn).
The move gives Athens until the end of the month to hammer out a deal that will unlock billions of euros needed to service its debts. There is a fear that a default could eventually force the country to leave the eurozone.  However, a Greek government source said there were key differences between the two sides, describing the creditors’ position as “extreme” and “unacceptable”.
Greece is seeking less harsh fiscal and reform requirements while the creditors are unhappy with efforts by Athens to roll back some earlier reform promises. “The proverbial can has been kicked down the road toward the end of the month,” said Raiko Shareef, markets strategist at the Bank of New Zealand, according to Bloomberg News.
Oil prices slipped ahead of the Opec meeting. US benchmark West Texas Intermediate for July delivery fell 44 cents to $57.56 while Brent crude for July slid 34 cents to $61.69.
Gold fetched $1,174.44 compared with $1,183.30 late Thursday.
In other markets, Taipei was slightly lower, edging down 8.50 points to 9,340.13; Wellington was marginally higher, adding 2.46 points to 5,867.90; Manila closed 0.36%, or 26.95 points, lower at 7,526.70; Bangkok rose 1.10%, or 16.47 points, to 1,507.37; Singapore fell 0.34%, or 11.33 points, to 3,333.67; Jakarta ended up 0.09%, or 4.75 points, at 5,100.57 and Kuala Lumpur rose 0.22%, or 3.85 points, to 1,745.33.