Overseas Trading: China, Europe Manage Gains Amid Light Trading

The Shanghai Composite overcame a drop out of the gate to end nearly 2% higher

Josh Selway

Sep 21, 2015 at 8:29 AM

Asian stocks closed mostly lower in a low-volume session. South Korea's Kospi took a 1.6% hit, with big caps Samsung Electronics and Hyundai Motors both declining roughly 3%. Hong Kong's Hang Seng also moved lower, giving back 0.8%. In China, though, the Shanghai Composite was able to gain 1.9%, shaking off a slow start. Investors displayed a preference for small-cap stocks as uncertainty still lingers in global markets following last week's Fed decision. Japan's stock market was closed for holiday.

European bourses are moving higher at midday in an attempt to recover from Friday's drubbing. Of note, German automaker Volkswagen has lost a fifth of its value, and is facing a potential $20 billion fine from U.S. officials, after the company confessed to cheating on emission tests. Germany's DAX was last seen 0.07% higher, while France's CAC 40 is up 1.3% and London's FTSE 100 has added 0.9%. Meanwhile, Alexis Tsipras was again voted prime minister of Greece through a snap election, after he stepped down from the same position last month.

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