Overseas Trading: Bank of England Talks Rate Hikes; Greek Stocks Bounce

Japan's Nikkei bucked the trend lower in Asia, while Europe digests BoE rate-hike chatter

by Andrea Kramer

Published on Aug 6, 2015 at 8:09 AM

Most Asian markets ended in the red, as traders took cues from Wall Street. Amid rate-hike concerns and lower oil prices, the Shanghai Composite fell 0.9%, South Korea's Kospi lost 0.8%, and Hong Kong's Hang Seng dropped 0.6%. Ahead of the Bank of Japan's two-day policy meeting, the Nikkei bucked the trend, tacking on 0.2% as a weaker yen bolstered exporters.

European benchmarks are mostly higher at midday, as the Bank of England (BoE) left its benchmark lending rate unchanged. However, BoE Governor Mark Carney said the central bank's first rate hike is on the horizon -- likely in early 2016 -- but it will be dependent on data. As traders digest "Super Thursday" data -- BoE meeting minutes, inflation stats, and gross domestic product estimates -- the FTSE 100 is up 0.1%, Germany's DAX is 0.2% higher, and France's CAC 40 is flirting with a 0.3% lead. Elsewhere, Greek stocks are on pace for a rebound after three days of heavy losses.


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