Overseas Trading: Greece Meets Its Deadline, While China Surges Again

Greece submitted a financial proposal to its creditors last night

Josh Selway

Jul 10, 2015 at 8:08 AM

Asian bourses finished mostly higher today, with China once again in focus. The Shanghai Composite sprung higher for the second straight day -- its biggest two-day rally since 2008 -- adding 4.5%, as police began investigating "malicious short-selling." In Hong Kong, the Hang Seng was able to pick up 2.1%, while the South Korea Kospi managed a 0.2% gain, even while big-cap stocks struggled. The lone negative outlier was the Nikkei in Japan, which fell 0.4%.

The biggest news came from Europe. Late Thursday night, Greece submitted its financial reform proposal to eurozone leaders, who are expected to accept or oppose the measures within the next few days. Against this backdrop, European benchmarks are sharply higher. France's CAC 40 is up 3.1%, Germany's DAX has added 2.3%, while London's FTSE 100 has seen a 1.3% advance.

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