Overseas Trading: China Recovery Calms Global Markets

Asian stocks finished a hectic week on a mostly positive note

Jan 8, 2016 at 8:31 AM
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Stocks in Asia ended a tumultuous week on a high note, for the most part. China's Shanghai Composite led the way with a 2% gain, though it still finished the week 10% lower. Contributing to the gains was news the country's regulators suspended the stock market's circuit-breaker mechanism, which resulted in a premature close on Thursday. A stronger yuan also boosted sentiment. Meanwhile, in Hong Kong, the Hang Seng closed 0.6% higher, and South Korea's Kospi picked up 0.7%. The only loser was Japan's Nikkei, edging 0.4% lower. 

Most European markets are also moving higher. Along with China's turnaround, rising oil futures are also contributing to the risk-on attitude. London's FTSE 100 has added 0.8% so far, while Germany's DAX is 0.3% higher. The France CAC 40, though, is off 0.2%.

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