EARN25

Overseas Trading: Global Stocks Drop with Oil; Tokyo Tumbles on Stimulus Concerns

Traders in Tokyo are concerned that the Bank of Japan isn't doing enough to support the economy

Aug 2, 2016 at 8:37 AM
facebook X logo linkedin


Asian markets finished lower for the most part, with Japanese bonds tanking amid fears that the Bank of Japan may tap the brakes on its stimulus efforts. Stocks in Tokyo also reacted negatively to falling oil prices, helping pressure the Nikkei 1.5% lower.

Elsewhere, South Korea's Kospi gave back 0.5%, and China's Shanghai Composite bucked the regional trend lower, tacking on 0.6%. Separately, Hong Kong markets were closed due to a typhoon warning.

Stocks in Europe are sliding, again led lower by bank stocks -- with German financial issue Commerzbank among the biggest laggards, down 7% on a bleak profit forecast. Also struggling are oil stocks, as crude continues to falter amid overproduction concerns. At last check, London's FTSE 100 is down 0.5%, the French CAC 40 has plunged 1.6%, and the German DAX is 1.4% lower.

Overseas Trading August 2

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!