While stocks in Asia continued their decline, European markets are testing positive territory
After
falling roughly 10% last week, China's Shanghai Composite suffered heavy losses again today, sliding 5.3%. Traders for the most part dismissed the People's Bank of China's (PBOC) effort to prop up the sinking yuan, though the Chinese government was otherwise absent during the sell-off -- a
stark contrast to last week's behavior.
The rest of Asia followed China's lead into the red. In Hong Kong, the Hang Seng gave back 2.8%, while South Korea's Kospi dropped 1.2%, and Japan's Nikkei closed with a 0.4% loss.
Asia's sell-off hasn't spread to Europe, though, where the major indexes are testing positive territory at midday. These gains come despite an ongoing slide in oil, as well, with Brent crude down more than 2% earlier in the session. Among the surging stocks is embattled automaker Volkswagen, with the firm's CEO saying it's now committed to investing in the U.S. At last check, London's FTSE 100 was up 0.1%, France's CAC 40 had added 0.5%, and Germany's DAX was enjoying a 0.7% lead.
