WRAP Shares down over Greece worries, Van Rompuy ADDS family photo EU-Japan

• published: 24 Jul 2015
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SHOTLIST Tokyo, Japan 1. Delegates entering room led by Japanese Prime Minister Yukio Hatoyama, European Union President Herman Van Rompuy and European Commission President Jose Manuel Barroso 2. Photographers 3. Close of Van Rompuy and Barroso seated for talks 4. Wide of table 5. Close of Hatoyama seated for talks 6. Mid shot of table Tokyo, Japan 7. Close-up of screen showing level of Nikkei 225 stock average 8. Wide of screen showing various numbers 9. Close-up of screen showing high, low and current level of Nikkei 225 10. Wide of trading floor 11. Mid shot of traders Tokyo, Japan 12. Wide of President of European Council, Herman van Rompuy, in news conference 13. Cutaway of reporters 14. SOUNDBITE: (English) Herman van Rompuy, President of European Council: "I confirm that I intend to convene a meeting of the Eurogroup at the level of heads of state and of government by around the 10th of May. On the basis of the reports to be finalised in the coming days, heads of state and of government will decide to activate the financing of the joint programme under negotiation now between the European Commission, the European Central Bank, and the International Monetary Fund, and of course the Greek government. The negotiations are going on, they are well on track, and there is no question about restructuring of the debt. Thank you." Hong Kong, China 15. Wide of Hong Kong Stock Exchange trading floor 16. Close-up of electronic board showing index share prices 17. Dealers at computers 18. Wide of General Manager of Fulbright Securities Ltd Francis Lun in interview 19. SOUNDBITE: (English) Francis Lun, General Manager of Fulbright Securities Ltd: "Later this week I think it will continue to fall, I think we will continue to have bad news from Europe, after Greece then Portugal then Spain, I think it''s like a domino effect, the house of cards is falling apart, and it will bring down the global financial markets too." Seoul, South Korea 20. Tilt down of computer screens in stock exchange showing Kospi rates 21. Close-up of stock board with Kospi rates 22. Close-up of computer screen showing Kospi rates 23. Board showing stock prices STORYLINE Asian stock markets tumbled on Wednesday after renewed worries about Greece''s debt problems led to sharp declines in Europe and the US. The declines came as Japanese and European Union leaders held talks in Tokyo on Wednesday, with agenda items likely to include nuclear disarmament, climate change and possibly Greece. Japanese Prime Minister Yukio Hatoyama, European Union President Herman Van Rompuy and European Commission President Jose Manuel Barroso were amongst those who took part in the summit talks. It was first Japan-EU summit since Japan saw a new government take power last September and since the EU''s Lisbon reform Treaty went into force last December. Barosso said the summit was an opportunity "to give new impetus to our cooperation". Japan''s Nikkei 225 stock average leading the region-wide retreat with a 2.6 percent fall to 10,924.79. At one point in early trading, it dropped as low as 10,882.40 before recovering slightly. Hong Kong''s Hang Seng dropped 1.5 percent to 20,949.40 and South Korea''s Kospi was off 0.9 percent to 1,733.91. Overnight on Wall Street, the Dow Jones industrial average fell 1.9 percent to 10,991.99 in its worst loss in almost three months. Concerns about Europe intensified when ratings agency Standard & Poor''s downgraded Greece''s debt to junk status and hit Portugal with a two-notch rating cut. Investors have been on edge for months about Greece''s fiscal crisis even as they''ve sent stocks higher on signs of an improving US economy. Van Rompuy said negotiations on the financial aid package were "on track." You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/546ebd9b950fb063577495280052adc3 Find out more about AP Archive: http://www.aparchive.com/HowWeWork