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Asian markets retreated on Friday ahead of the weekend's Greek referendum that could decide its eurozone future, while Shanghai plunged more than seven percent, at the end of a torrid week for mainland investors. Tokyo eased 0.36 percent as the yen edged back up against the dollar, Hong Kong eased 0.12 percent and Sydney slipped 1.27 percent, while Seoul dropped 0.16 percent. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dived 6.96 percent.
The EU and IMF heaped pressure on Greece Thursday, warning of the perilous state of the country's finances, days ahead of a controversial referendum that could determine its future in the eurozone. As Greece's leftist leaders staked their political lives on the outcome of Sunday's vote, the International Monetary Fund warned the country's growth prospects had deteriorated dramatically since the Syriza party came to power in January.