Stocks in Europe arehigher following two days of heavy losses
Asian stocks finished mixed today, following yesterday's
post-"Brexit" bounceback. China's Shanghai Composite outpaced its regional peers -- adding 0.6% -- while Hong Kong's Hang Seng sank 0.3%. In Japan, the Nikkei rose once again, this time adding 0.1%, as a strengthening yen stoked stimulus hopes. Over in South Korea, however, the Kospi dropped 0.5%.
Stocks are staging a relief rally in Europe, even though
Standard & Poor's downgraded the U.K.'s credit rating to AA from AAA. Elsewhere, ahead of the first summit among European Union (EU) leaders in the wake of the "Brexit" referendum, German Chancellor Angela Merkel took a hard line with exiting U.K. Prime Minister David Cameron, saying, "My only advice to our British friends is: Don’t delude yourself about the necessary decisions that need to be taken."
Among the top gainers were banking stocks, a stark reversal from the
sharp losses seen in previous sessions. London's FTSE 100 and Germany's DAX have each added 2.8%. The French CAC 40 is closed.
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