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- Global Stocks: gains in Chinese stocks pushed U.S. equities higher
Global Stocks: gains in Chinese stocks pushed U.S. equities higher
U.S. stocks finished Thursday session with moderate gains after traders felt relieved about China's stock market. Recently the country's securities regulator prohibited shareholders with large stakes in listed companies to sell stocks for the next six months. Hopes for a Greek deal also supported stocks as Greek government offered new measures (including sales-tax increases and cuts in public spending) in the latest proposal.
The Dow Jones Industrial Average rose 33.2 points, or 0.19%, to end at 17,548.62. The S&P 500 gained 4.63 points, or 0.23%, to 2,051.31 and the Nasdaq Composite advanced by 12.64 points, or 0.26%, to 4,922.40. At the beginning of the session all three indices traded at least 1% higher, but retreated as the day went on.
In Asia this morning Hong Kong Hang Seng rose 2.11%, or 514.88 points, to 24,907.67. China Shanghai Composite Index gained 4.94%, or 183.39 points, to 3,892.72. Meanwhile the Nikkei fell by 0.46%, or 91.91 points, to 19,763.59.
Gains in Chinese stocks support equity markets worldwide after concerns about China's markets eased due to governmental steps including opportunities to take a loan to buy stocks and prohibition for shareholders of 5% and more in listed companies to sell in the coming six months.
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