Asian markets mixed, eyes trained on Cyprus

Asian markets were mixed in nervous trade on Friday after the European Central Bank warned Cyprus it would cut off funding to its banks if leaders did not hammer out a new bailout deal by next week.

Regional markets followed losses in Europe and on Wall Street as Nicosia struggles to find new ways to raise cash to qualify for bailout funds, after its plan to tax savings was overwhelmingly rejected on Tuesday.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1197042/asian-markets-mixed-eyes-trained-cyprus