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Nikkei Gets Hit; China Rises

In Tokyo, it's a second bad day, but the Shanghai Composite rebounds nearly 4%.

Updated from Feb. 27

World stock markets were mostly lower Wednesday despite a bounceback in China. But stock futures in the U.S. pointed to a stronger open.

The Shanghai Composite Index rose 4% a day after its 8.8% plunge precipitated a worldwide selloff that culminated in a 416-point plunge on the Dow Jones Industrial Average.

Despite Wednesday's Shanghai bounce, stocks fell elsewhere overseas. In Tokyo, the Nikkei closed at 17,604.12, down 2.85%. In Hong Kong, the Hang Seng Index ended down 2.9%; Singapore's Straits Times Index fell 4.2%; and South Korea's Kospi lost 2.9%.

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In Europe, France's CAC fell 0.7%, and the German Dax and the U.K. FTSE each fell 0.8%.

In the U.S., though, Dow Jones and Nasdaq futures were up 105 and 17 points respectively, in premarket trading.