Overseas Trading: China Drops Again; Europe Rises on Earnings

The Chinese government's latest efforts to support stocks couldn't stem Shanghai's slide

Josh Selway

Jul 28, 2015 at 8:11 AM

Stocks in Asia were a mixed bag today, with Chinese equities again leading the losers. Securities regulators on the mainland chalked up yesterday's brutal crash to "share dumping," and announced the government's intent to buy stocks in support of the market. Despite that pledge -- and fresh liquidity injections from the People's Bank of China -- the Shanghai Composite shed 1.7% by the close. The Hong Kong Hang Seng, though, managed to add 0.6%. Elsewhere, South Korea's Kospi eked out a 0.01% move higher, but Japan's Nikkei dropped 0.1%.

In Europe, markets are moving higher, with positive earnings reports from the likes of Statoil and Michelin drowning out the mess in China. Germany's DAX was leading the way at last check, up 1.4%. France's CAC 40 is 1.1% above breakeven, and London's FTSE 100 has posted a 0.8% lead.

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