Overseas Trading: Shanghai Composite Pops; Europe Wary Ahead of Fed

While the Shanghai Composite popped higher, other markets are mixed ahead of the latest Fed decision

Josh Selway

Jul 29, 2015 at 7:59 AM

Markets were mixed in Asia today, even as Chinese stocks saw their first gains in three days. Specifically, the Shanghai Composite jumped 3.4%, just two sessions after its worst sell-off in years. In Hong Kong, the Hang Seng added 0.5%. On the other hand, the Nikkei gave back early gains after manufacturing giant Fanuc offered a disappointing 2015 outlook; the Japanese index closed 0.1% lower. South Korea's Kospi also ended in the red, giving back 0.1% as drugmakers suffered heavy losses.

Stocks in Europe are struggling to pick a direction ahead of the Federal Open Market Committee's (FOMC) latest policy decision this afternoon. Traders are also digesting earnings from several prominent companies, with Barclays, Total, and Peugeot all on the rise after their quarterly reports. London's FTSE 100 and France's CAC 40 were higher at last look, with respective gains of 0.6% and 0.2%. Elsewhere, Germany's DAX is hovering just below breakeven, losing 0.02%.

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