It was a July to forget for the Shanghai Composite
For the most part, Asian bourses closed out the week higher. However, Chinese stocks still struggled, with the Shanghai Composite falling another 1.1%. The drop brings the index's monthly loss to 14.3%. The news today centered on Chinese regulators halting 24 trading accounts for unusual stock bidding and bid cancellation, according to Reuters. Elsewhere, Hong Kong's Hang Seng managed a 0.6% lead, as did South Korea's Kospi, bolstered by an upbeat report on industrial output. Amid mixed data on inflation and household spending, Japan's Nikkei closed 0.3% higher.
Stocks in Europe are struggling to pick a direction around midday, as investors consider a fresh round of earnings, the latest U.S. gross domestic product (GDP), and continued weakness in commodities. France's CAC 40 is having the best day so far, advancing 0.2% on the heels of impressive earnings numbers from aerospace giant Airbus and lender BNP Paribas. In London, the FTSE 100 is down 0.2%, while Germany's DAX is 0.1% below breakeven.
