Overseas Trading: China Stocks Suffer Steep Setback

China's Shanghai Composite suffered its worst single-day percentage loss in two months

by Alex Eppstein

Published on Apr 20, 2016 at 8:41 AM
Updated on Jun 24, 2020 at 10:16 AM

After initially rising on a weaker U.S. dollar and rising oil prices, Asian stocks finished the day mostly lower. China's Shanghai Composite led the way south, dropping 2.3% -- its biggest single-day percentage loss since late February -- with some speculating the loss was driven by short-term liquidity concerns and uncertainty over future stimulus measures. Likewise, Hong Kong's Hang Seng and South Korea's Kospi slipped 0.9% and 0.3%, respectively. Bucking the trend lower, Japan's Nikkei picked up 0.2%, aided by a relatively weaker yen.

European markets are mostly higher today, shaking off a retreat in crude oil prices thanks to a rally among mining stocks. Upbeat earnings also are serving as a positive catalyst, with strong gains from AccorHotels contributing to the French CAC 40's 0.2% lead. Germany's DAX is on the plus side of the ledger, as well, up 0.2%. Meanwhile, London's FTSE 100 has edged 0.1% lower, as a rise in the U.K. unemployment rate -- the first since last July -- overshadows a positive earnings reaction for ARM Holdings.

overseas stocks april 20

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