Chinese Stocks Fall on Concern About State Support, Economy

China’s stocks fell for the first time in three days amid concern about the economy and the level of government support for the equities market.

The Shanghai Composite Index slid 1.6 percent to 3,180.37 at 9:36 a.m. local time, halting a two day, 8.2 percent rally. Citic Securities Co. dropped 7.3 percent after the official Xinhua News Agency reported that company executives were detained on suspicion of insider trading.

China’s financial markets will be shut on Thursday and Friday for a national holiday celebrating the 70th anniversary of the World War II victory over Japan.

Source: Bloomberg

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Asian Stocks Rise Fourth Day on Optimism About Greece Debt Talks

Asian stocks rose, following a rally in global shares, as Greece’s new measures to appease its creditors fueled optimism a deal will soon be reached.

The MSCI Asia Pacific Index added 0.1 percent to 148.71 as of 9:00 a.m. in Tokyo after jumping the most in two months on Monday. Stocks in Europe and the U.S. gained on Monday after Greek Prime Minister Alexis Tsipras presented a fresh set of austerity proposals. European leaders gave Greece’s government 48 hours to make the final push needed to satisfy creditors and end the five-month standoff.

Source: Bloomberg

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