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Anxiety Grows Around Portugal's Debt Market

This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.

Hi, I'm Saijal Patel and you're watching “Asia Market Daily”.

There's growing pressure on Portugal to take money from the EU and the IMF.

Reports say Germany, France and others are urging Lisbon to take the cash, to stop the bloc's debt crisis from spreading.

But Portuguese officials are denying the country is under pressure.

Lisbon's big test comes on Wednesday, when it auctions 1.25 billion euros worth of debt.

The yield on Portuguese 10-year paper rose above 7 percent on Friday, the highest level since the euro's creation.

(SOT) Andreas Hoefert, Chief Economist & Global Head, WMR UBS:

"This is a big fear for the market. I would say definitely nothing has been solved. We are back where we were in December and my feeling is this is a very crucial week for the euro and for the whole euro zone, to start to fix some problems."

However, analysts say it's Spain, rather than Portugal that's the real concern.

Greg Bundy of AIMS Finance warns if Spain has any difficulty raising money "that would have a major impact on global markets".

He says the severity of the Portugal debt problems should become clearer within days.

(SOT) Greg Bundy, Vice Chairman, AIMS Finance:

"I think Portugal will be the first one up this week. We'll probably have a better idea toward this time on Friday if they've taken some money from the EU. One thing I'll say about Portugal. It's small enough to tackle, and I don't see a major issue for the markets".

Thanks for watching “Asia Market Daily”.

I'm Saijal Patel from CNBC.

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