Overseas Trading: China, Germany Pace Global Stock Market Slide

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

by Josh Selway

Published on Feb 23, 2016 at 8:43 AM

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%


160223Overseas

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.


A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.
Ulta Stock Moves Lower on New Coronavirus Measures
Ulta has closed all of its stores until further notice
Johnson & Johnson Stock Scaling Dow After COVID-19 Vaccine Update
Johnson & Johnson hopes to have 1 billion doses available by early 2021
IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.