Overseas Trading: Shanghai Stocks Back in Sell-Off Mode

Mainland equities tumbled, despite Beijing's best efforts to prop up stocks

Josh Selway

Jul 7, 2015 at 8:14 AM

Asian markets finished mostly lower today. The only winner was Japan's Nikkei, which managed to add 1.3% as traders scooped up stocks at bargain prices after yesterday's sell-off. One day after leading the winners' column, China's Shanghai Composite paced the losers, sliding 1.3% despite the government's aggressive market-stabilizing measures. In a similar vein, Hong Kong's Hang Seng lost 1%. Finally, South Korea's Kospi closed lower again, falling 0.7%.

Greece is once again dragging European bourses south of breakeven, with eurozone finance ministers set to meet today to further discuss options. The French CAC 40 is off 1% at midday, followed by a 0.6% drop for Germany's DAX. Meanwhile, London's FTSE 100 is 0.3% lower.

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