Overseas Trading: European Markets Rally as Greek Banks Open for Business

The Shanghai Composite muscled higher after regulators announced new guidelines for Internet finance

Jul 20, 2015 at 8:15 AM

Stocks in Asia settled mixed amid an ongoing retreat in commodity prices. China's Shanghai Composite outperformed its peers, adding 0.9% after the People's Bank of China posted new guidelines for qualified lenders to enter the Internet finance arena. Meanwhile, Hong Kong's Hang Seng finished 0.04% lower and South Korea's Kospi gave back 0.2%. The Japanese Nikkei was shuttered for holiday.

European bourses have kicked off the week on a positive footing, as Greek banks have re-opened -- and reports are indicating Athens spent its bridge loan to meet existing debt obligations. At midday, the German DAX is up 1%, the French CAC 40 has added 0.8%, and London's FTSE 100 is 0.2% higher.

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