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Global stocks remain on edge ahead of Brussels euro summit (LPL, OCPNY)

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Stocks across the Asia-Pacific finished flat Thursday evening local time amid uncertainty among investors that European leaders will be able to agree on a plan to solve the Eurozone's continuing debt crisis at an EU summit in Brussels today.

Later today the European Central Bank is expected to cut Eurozone interest rates a quarter of a point to 1%, according to the BBC .

Chinese shares ( YAO , quote ) were down 0.27%, but Australian ( EWA , quote ), Japanese ( EWJ , quote ) and South Korean ( EWY , quote ) stocks enjoyed slight bumps, up 0.56%, 1.40% and 0.09%, respectively

Shares of Japan's Olympus ( OCPNY , quote ), now engulfed in a $1.7 billion accounting fraud investigation, rose 4.4% after news that its board signaled it would quit.

Look to see LG Display ( LPL , quote ) remain under pressure. Shares fell 5.1% overnight amid rumors of a new share issue, which the South Korean flat-screen TV manufacturer has denied.

Fueling unease in Asia is the meeting of European leaders at a "do-or-die" summit ending Friday.

Investors are skeptical that doubling or tripling the Eurozone's rescue fund, the European Financial Stability Facility (EFSF), from its current 440 billion euros ($590 billion) will be enough to rescue Italy's economy, the bloc's third largest.

The euro slid 0.22% to $1.3383 against the dollar.

The yuan, however, remained steady throughout overnight trading at 6.3618 to the dollar.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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