Global stocks, dollar rebound but China slumps again
Source: Reuters
Volatile global markets got some respite from their latest sharp sell-off on Tuesday as bargain hunters boosted European and most Asian stocks, though China was pummeled again.
As investors dipped their toes back into still choppy waters, the dollar and beaten-down oil prices rose for the first time in five days, safe-haven bonds edged down and defensive positions in the yen and euro were cut.
With market hopes of stimulus measures from authorities in Beijing still unfulfilled, China's main equity markets slumped a further 8 percent overnight while Japan's Nikkei lost 4 percent. But the rest of Asia was calmer, gaining 2.1 percent after an initial dip to three-year lows.
Europe fought its way back too, supported by takeover news after Monday's global beating wiped around 450 billion euros ($520 billion) off the value of its leading stocks.
Read more: http://www.reuters.com/article/2015/08/25/us-markets-global-idUSKCN0QU01U20150825
