International markets roundup

A roundup of trading on major world markets:

NEW YORK - US stocks have finished higher in a topsy-turvy session, rallying after worries about Greece and China caused deep losses in early trade.

The Dow Jones Industrial Average ended up 93.33 points (0.53 per cent) to 17,776.91 after earlier falling more than 200 points.

The broad-based S&P 500 jumped 12.58 (0.61 per cent) to 2,081.34, while the tech-rich Nasdaq Composite Index rose 5.52 (0.11 per cent) to 4,997.46.

Analysts described unease at the latest drops in Chinese stocks, a sign efforts by the Chinese government to stabilise equity markets are falling short. Chinese stocks have fallen more than 30 per cent since mid-June.

Worries about Greece also dragged on stocks.

LONDON - Europe's main markets closed lower Tuesday, with London's benchmark FTSE 100 index of top companies losing 1.58 per cent to 6,432.21 points.

In the eurozone, the CAC 40 in Paris shed 2.27 per cent to 4,604.64 points and Frankfurt's DAX 30 declined 1.96 per cent to 10,676.78 points.

HONG KONG - Japanese and Australian stocks bounced back from the previous day's Greece-fuelled sell-off, but Shanghai and Hong Kong sank again as analysts warned Chinese measures to staunch a recent mainland rout will likely not be enough.

The euro eased slightly but managed to hold its own after Greece's weekend vote against creditors' austerity proposals, with dealers hoping contagion will be limited if a bailout reform deal cannot be reached.

Crude prices edged up after taking a hammering Monday on demand fears owing to the Greek crisis and China's struggles to stabilise its stock markets.

Tokyo rose 1.31 per cent, or 264.47 points, to 20,376.59 and Sydney added 1.94 per cent, or 106.40 points, to 5,581.40, but Seoul lost 0.66 per cent, or 13.64 points, to end at 2,040.29.

Shanghai ended 1.29 per cent lower, giving up 48.79 points to 3,727.12 - although it managed to pare a fall of more than three per cent at the open. Hong Kong lost 1.03 per cent, or 260.97 points, to end at 24,975.31.

WELLINGTON - The S&P/NZX 50 Index climbed 26.56 points, or 0.5 per cent, to 5803.18.

Market Data

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