Overseas Trading: China PMI Sinks Stocks; Athens Exchange Re-Opens to Heavy Losses

Disappointing manufacturing data from China is weighing on all of Asia, while the Greek stock exchange is open for the first time in five weeks

Aug 3, 2015 at 8:20 AM
facebook twitter linkedin


A fresh round of weak economic data out of China increased concerns about the country's economy, dragging Asian markets lower across the board. The Shanghai Composite dropped 1.1%, pressured by a two-year low in the Caixin China purchasing managers index (PMI), and a softer-than-forecast official PMI release over the weekend. Continued losses for crude oil also pressured equities, with energy stocks among the day's top laggards.  In Hong Kong, the Hang Seng fell 0.9%, while South Korea's Kospi slid 1.1%. Japan's Nikkei closed 0.2% lower. 

European stocks are mixed at midday, as traders keep a close eye on China's latest slide. Meanwhile, Greece's stock market has re-opened for the first time in five weeks, with heavy losses for banking stocks leading the Athens exchange lower. At last check, Germany's DAX has picked up 1%, and France's CAC 40 is 0.7% higher. London's FTSE 100, meanwhile, is 0.01% lower.

150803Overseas

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners