Overseas Trading: Shanghai Composite Rallies on Hopes for Fund-Money Flood

The Shanghai Composite surged, as reports indicate a huge amount of sideline cash could reenter Chinese stock markets

by Josh Selway

Published on Aug 7, 2015 at 8:52 AM
Updated on Aug 7, 2015 at 8:52 AM

Stocks in Asia closed mostly higher on Friday, with traders anticipating sidelined money to re-enter the Chinese market. Specifically, roughly 300 China funds controlling more than 1 trillion yuan could flow back into the market, according to Reuters, which cited China-based Shanghai Security News. The Shanghai Composite eventually closed 2.3% higher, lifting Hong Kong's Hang Seng 0.7% as well. Amid the most recent earnings wave, and the Bank of Japan's decision to keep its current stimulus plan in place, Japan's Nikkei edged out a 0.3% lead. South Korea's Kospi, though, eased 0.2%.

As investors keep a cautious eye on the U.S. nonfarm payrolls report, stocks in Europe are moving lower. Worse-than-expected industrial production data from Germany is also weighing on markets. At last glance, Germany's DAX and France's CAC 40 had each given back 0.4%, while London's FTSE 100 sat right at breakeven. 


150807Overseas


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
Silver Lining for Struggling Ulta Beauty Stock
Historically, ULTA is one of the best stocks to own in the second quarter
3M Ramps Up Face Mask Production on White House Order, Stock Slips
President Trump said he would invoked the Defense Production Act against 3M in a tweet late on Thursday
Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.