Chinese shares continue to decline as Greek crisis remains unresolved

Chinese shares continue to decline, leading the rest of the Asia markets down, even as the Greece debt crisis remains unresolved.

According to BBC, the benchmark Shanghai Composite went down by 3.6 percent to 19,299.67 as investors bought the yen on concerns over China's stock market and Greek crisis.

The China Banking Regulatory Commission (CBRC) said that it would allow financial institutions to renegotiate maturity terms regarding lending, using stock as collateral, and allow banks to ease margin requirements for borrowers.

China's inflation data for June did little to boost sentiment for investors, with the pace of consumer inflation quickening to 1.4 percent from a year ago, beating market expectations of 1.3 percent.