European markets edged higher on Wednesday as positive sentiment in the region faltered due to volatility in China.
Pan-European Stoxx 600 Index It opened just 0.06% higher but strengthened slightly, rising 0.2% by mid-morning, with only the banking and technology sectors in negative territory.
Regional markets traded and closed lower on Tuesday, with all major exchanges and most sectors posting losses throughout the day. The week got off to a rocky start, with a lackluster session as investors reacted to a slowdown in China’s economic stimulus measures.
Asia-Pacific markets were mixed overnight, with Chinese stock markets experiencing another tumultuous trading day. Mainland China’s CSI 300 Index fell 6%, while Hong Kong’s Hang Seng Index continued its decline, falling 2.5%. On Tuesday, the Hang Seng Index had its worst day in 16 years, closing down 9.41%.
U.S. stock index futures were slightly lower on Wednesday morning, following gains on major indexes. Wall Street’s major indexes strengthened on Tuesday as technology stocks outperformed the broader market and oil prices retreated from their highs.
Events worth watching in Europe today include the German government’s latest economic forecasts and the latest NATO defense ministers meeting in Belgium.
—CNBC’s Sarah Min and Lim Hui Jie contributed reporting to this market report.
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