By Paul Taylor and Costas Pitas BRUSSELS/ATHENS (Reuters) - Greece faces a last chance to stay in the euro zone on Tuesday when Prime Minister Alexis Tsipras puts proposals to an emergency euro zone summit after Greek voters resoundingly rejected the austerity terms of a defunct bailout. With Greek banks rapidly running out of cash and the European Central Bank slowly tightening the noose on their funding, Tsipras must persuade the bloc's other 18 leaders, many of whom are exasperated after five years of Greek crisis, to open rapid negotiations for a major new loan to rescue his country.
Most Asian stocks drooped on Tuesday as Chinese equity markets went into a fresh tailspin, fraying investor nerves already strained by uncertainty hanging over the future of Greece and the European currency union. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 percent, led by Hong Kong and South Korea, though markets in developed countries fared better. Japan's Nikkei rose 1.4 percent after a sharp fall on Monday while European shares were seen mostly flat as investors await a euro zone summit on Greece later in the day.
By Samuel Shen and Pete Sweeney SHANGHAI (Reuters) - Chinese stocks fell on Tuesday, taking little comfort from a slew of support measures unleashed by Beijing in recent days, and unnerved by Chinese Premier Li Keqiang's failure to mention the market chaos in a statement on the economy. Before the market opened, Li said in comments posted on a government website that China had the confidence and ability to deal with challenges faced by its economy, but had nothing to say on the three-week plunge that has knocked around 30 percent off Chinese shares since mid-June. Qi Yifeng, analyst at consultancy CEBM, said government measures were not strong enough to reverse the downtrend, especially as it was a liquidity issue for many who had borrowed to buy shares and were now forced to sell to meet margin calls.