Overseas Trading: China Stocks Rally

Stocks in China rallied on reports of loosening margin controls

by Karee Venema

Published on Mar 21, 2016 at 8:35 AM

It was a mixed finish in Asia today. In China, brokerage stocks rallied on reports that state-backed China Securities Finance Corporation has loosened margin lending controls, which helped overshadow a warning about rising corporate debt from the People's Bank of China (PBOC). By the close, the Shanghai Composite was up 2.2% -- continuing its recent string of wins -- and back above the 3,000 mark. Elsewhere, Hong Kong's Hang Seng eked out a 0.1% win, while South Korea's Kospi settled with a 0.1% loss. Markets in Japan were closed for holiday.

European stocks are mostly higher at midday, as traders keep a close eye on seesawing oil prices and a rebounding U.S. dollar. At last check, the German DAX is up 0.5% and London's FTSE 100 is 0.04% higher. The French CAC 40, however, is flirting with a 0.1% loss.

160321overseas

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

6 Sectors for Summer

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


Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
Tiffany Stock Drops as Takeover Talks Dissipate
LVMH was to acquire Tiffany & Co in a billion-dollar deal
Coty Stock Glows Up with Possible Kardashian Cosmetics Line
The trendy cosmetics company is in talks with reality TV star Kim Kardashian West over a line of beauty products
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.