Overseas Trading: Yuan Fears, Bangkok Bombing Rattle Stocks

Chinese stocks dropped over 6% on yuan fears, while a deadly pipe bomb explosion in Thailand is capturing global attention

Aug 18, 2015 at 8:19 AM
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Asian stocks got decimated, as ongoing yuan fears and a deadly pipe bomb attack at Bangkok's Erawan Shrine rattled the region. Worst off by far was China's Shanghai Composite, which plunged 6.2% as the mainland currency fell against the dollar -- overshadowing a third straight monthly rise in home prices. Japan's Nikkei slipped 0.3%, as a strong showing from bank stocks limited losses. Meanwhile, Hong Kong's Hang Seng surrendered 1.4% to move into negative year-to-date territory, while South Korea's Kospi  gave up 0.6%.

European bourses are tracking their Asian peers lower, as traders brace for tomorrow's German parliament vote on a third Greek bailout. At last check, London's FTSE 100 is off 0.4%, after data showed consumer price inflation holding close to zero last month. Meanwhile, Germany's DAX and France's CAC 40 are both down 0.2%.

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