Overseas Trading: Chinese Stocks Tumble; Tsipras Talks Tough

China's Shanghai Composite continues to dive, while European stocks are waffling amid Greek Prime Minister Alexis Tsipras' latest comments

Jul 2, 2015 at 8:09 AM

Asian markets settled mostly in positive territory, following the lead of Wall Street despite a defiant speech by Greek Prime Minister Alexis Tsipras -- who, along with Finance Minister Yanis Varoufakis, is threatening to resign if the nation votes in favor of a bailout in Sunday's referendum. Japan's Nikkei gained almost 1%, as the auto sector rallied on strong U.S. sales, while South Korea's Kospi added 0.5%. Likewise, Hong Kong's Hang Seng edged up 0.1% amid a rally in the gaming sector, after Macau eased visa requirements for mainland visitors. However, China's Shanghai Composite continued to slide, losing 3.5% despite freshly relaxed regulations on margin lending.

European stocks are nearly flat, as traders brace for Sunday's Greek referendum and today's U.S. nonfarm payrolls report. London's FTSE 100 and the German DAX are 0.2% and 0.1% higher, respectively, while the French CAC 40 is off 0.1%.

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