Overseas Trading: More Volatility in China, Despite New Interventions

Chinese stocks continued to sag, despite the commitment of brokerages to buy shares

Sep 2, 2015 at 8:33 AM
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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.

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