Stocks in Europe are overcoming a sell-off in Shanghai
Stocks in China sold off, leaving the Shanghai Composite with its lowest close since Feb. 3. Specifically, the Chinese benchmark fell 6.4%, and concerns about tighter liquidity in the market appeared to be the main driver for the sell-off, which comes as Group of 20 (G-20) leaders converge on Shanghai. Hong Kong's Hang Seng followed suit by shedding 1.6%. South Korea's Kospi, meanwhile, managed a 0.3% lead, while Japan's Nikkei posted a 1.4% win thanks to a cooling yen, though electronics heavyweight Sharp sold off on takeover chatter.
Despite China's struggles, stocks in Europe are enjoying broad gains at midday on positive economic news and seemingly stabilizing oil prices. U.K.'s fourth-quarter domestic product (GDP) reading was upwardly revised, and, while it was last seen slightly lower, U.S. crude oil dated for April seems to have found a home atop $31 per barrel, appeasing some fear among investors. London's FTSE 100 was up 2.4% at last check, France's CAC 40 was 2.2% higher, and Germany's DAX had added 1.5%.
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