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- Global Stocks: Asian stocks mostly tumbled
Global Stocks: Asian stocks mostly tumbled
U.S. stocks ended lower on Thursday. U.S. markets were closed on Friday in observance of Independence Day.
The Dow Jones Industrial Average fell 27.80, or 0.2%, to 17730.11. The S&P 500 index lost 0.64 point, less than 0.1%, to 2076.78. The Nasdaq Composite Index fell 3.91, or 0.1%, to 5009.21.
In Asia this morning Hong Kong Hang Seng fell by 3.18%, or 829.36 points, to 25,234.75. China Shanghai Composite Index gained 2.16%, or 79.46 points, to 3,766.37. Meanwhile the Nikkei declined by 2.42%, or 497.42 points, to 20,042.37.
Asian stocks outside China fell amid results of Greece referendum. 61.31% of Greeks voted against Europe's latest bailout offer despite that the country urgently needs cash to keep its economy going and reopen banks. Some meetings regarding Greece's situation are scheduled for this week and they are anticipated by investors.
Chinese stocks advanced amid news from the country's top securities regulator, which said that the central bank of China would provide funds to China Securities Finance Corp, a company owned by the stock regulator. The company will use the money to lend to brokerages, which could then lend to investors to buy stocks. This new tool is designed to stop the massive selloff seen in Chinese stock markets lately and this is the first time central-bank funds will be provided for non-bank institutions.
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