Overseas Trading: Shanghai Composite Rallies as Regulators Crack Down on Selling

Maintaining the recently volatile trend, Asian markets were able to close higher today, led by a huge turnaround in China. The Shanghai Composite surged 5.8%, as regulators set forth additional measures to curb selling among big shareholders. Also benefiting was Hong Kong's Hang Seng, adding 3.7%. However,  trading on more than half of Chinese stocks remains halted. Elsewhere, Japan's Nikkei and South Korea's Kospi each managed 0.6% leads. 

Markets are looking strong in Europe at midday, as well. Ahead of Sunday's European Union meeting, expectations are for Greece to submit a complete financial reform proposal by day's end. The country has already submitted a new three-year loan request to the European Stability Mechanism. Against this backdrop, France's CAC 40 has picked up 2.2%, with Germany's DAX adding 2.1%. London's FTSE 100 rounds things out with a 1.2% lead.