Overseas Trading: China, Germany Pace Global Stock Market Slide

Analysts at HSBC lowered their year-end forecasts for stocks in China and Hong Kong

Feb 23, 2016 at 8:43 AM
facebook twitter linkedin

Despite a strong start to the day, Asian stocks gave back some of their oil-inspired gains from Monday. China's Shanghai Composite suffered a 0.8% setback, while Hong Kong's Hang Seng closed 0.3% lower, after financial giant HSBC slashed its year-end forecasts for stocks in both regions. In Japan, the Nikkei dropped 0.4% in the face of a resilient yen, while South Korea's Kospi edged 0.1% lower. 

European markets have followed Asian stocks into the red. Leading the losers are banking heavyweight Standard Chartered and mining giant BHP Billiton, which both reported lackluster earnings. German stocks were also hit by a weak reading on business sentiment, pushing the DAX 0.8% lower. Elsewhere, London's FTSE 100 ended 0.6% in the red, and France's CAC 40 shed 0.5%


Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Best stocks for October and worst stocks for October


Special Offers from Schaeffer's Trading Partners