BANGKOK (AP) - Asian stocks hovered between gains and losses Monday in trade thinned by Chinese New Year holidays as talks on a debt agreement for Greece dragged on.
Only a handful of markets were open for business. Trading is closed in mainland China, Hong Kong, South Korea, Taiwan, Indonesia, Singapore, Malaysia, and the Philippines.
Over the weekend, the representative of Greece's private creditors said the talks are continuing even after his unexpected departure from the country.
A deal in Athens would allow the country to receive a second bailout package from other European governments and the International Monetary Fund, and cut Greece's debt from an estimated 160 percent of its annual economic output to 120 percent by 2020.
A Greek default would send borrowing costs higher across Europe and could trigger chaos in the global financial system.
Crude oil fell below $98 a barrel. The dollar was up against the yen and down against the euro.
First Coast News