Overseas Trading: China Gains, But North Korea Stirs Global Fear

News that North Korea successfully tested a hydrogen bomb has investors worried

by Josh Selway

Published on Jan 6, 2016 at 8:32 AM
Updated on Jun 24, 2020 at 10:16 AM

After two days of losses, China's Shanghai Composite outperformed its regional peers to add 2.3%, as traders were encouraged by recent policy intervention. However, the rest of Asia turned lower on reports that North Korea tested a hydrogen bomb, which set off an earthquake of 5.1 magnitude. South Korea defense stocks jumped higher on the report, though the Kospi finished with a 0.3% loss. Hong Kong's Hang Seng and Japan's Nikkei each dropped 1%. 

The news out of North Korea, and a fresh 11-year low for Brent crude futures, has European stocks moving lower at midday. And although the U.S. auto sector boasted its best sales year on record, automakers across Europe traded lower. At last check, London's FTSE 100 was down 1.8%, France's CAC 40 had lost 1.9%, and Germany's DAX was 1.7% lower.

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