Overseas Trading: China Stocks Resume Slide

Stocks in China took another hit, though data showed improvement in the economy

Josh Selway

Aug 5, 2015 at 8:34 AM

Most Asian markets notched modest gains today -- but one session after regulators implemented new short-selling restrictions, the Shanghai Composite slid 1.7% in a day marked by extreme volatility. The drop came even as data revealed surprising growth in China's services sector, which helped Hong Kong's Hang Seng to a 0.4% advance. Japan's Nikkei ended 0.5% higher, bolstered by strong earnings reports from a couple of big-name construction companies. The Kospi edged 0.09% higher in South Korea, though heavyweight Samsung Electronics had another rough outing.

So far, it's been a solid day for equities across Europe. Traders are responding to a stronger-than-forecast reading on the composite eurozone purchasing managers index (PMI), along with positive earnings from the likes of Societe Generale and London Stock Exchange Group. Germany's DAX and France's CAC 40 are leading the way, sporting respective gains of 1.5% and 1.4%. London's FTSE 100 is also higher, adding 0.9%.

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