Overseas Trading: China's Free Fall Drags Asian Markets Lower

China is falling deeper into bear-market territory

Jul 8, 2015 at 8:05 AM
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Stocks in China were in free fall -- even after additional measures taken by the government, and despite a statement from regulators chalking up the recent losses to "irrational selling." As of today, more than 1,300 companies have halted trading in China. When the dust settled, the Shanghai Composite lost 5.9%, with Hong Kong's Hang Seng close behind with a 5.8% drop. Japan's Nikkei and South Korea's Kospi were dragged down by their regional peers, slipping 3.1% and 1.2%, respectively. 

Stocks in Europe, however, are seeing gains around midday. Greek Prime Minister Alexis Tsipras announced that the country has submitted a written request for financial aid to its creditors, though it will still need to submit a detailed proposal for financial reform by week's end. At last check, France's CAC 40 was leading the way, adding 1.2%. Germany's DAX and London's FTSE 100 are both up 0.9%. 


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