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

by Josh Selway

Published on Aug 3, 2015 at 8:20 AM

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.

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