Chinese stocks continued to sag, despite the commitment of brokerages to buy shares
Stocks in Asia settled mostly lower, just a day after getting hammered on a pair of disappointing manufacturing reports. Hong Kong's Hang Seng dropped 1.2%, while China's Shanghai Composite gave up 0.2% in another characteristically volatile session. Earlier, the mainland's benchmark index was down nearly 5%, as traders were unimpressed by reports of fresh equity-buying efforts from China-based brokerages. Meanwhile, Japan's Nikkei slipped 0.4%, and South Korea's Kospi ended 0.05% higher on automaker strength.
European bourses are sticking pretty close to breakeven at midday, amid ongoing worries about the Chinese economy and a potential interest-rate hike in the U.S. At last check, London's FTSE 100 is up 0.03%, while the French CAC 40 and German DAX have both added 0.2%, ahead of tomorrow's regularly scheduled European Central Bank (ECB) policy meeting.
