Overseas Trading: Volatility Ramps Up as Japan Takes a Hit

Japan's Nikkei moved sharply lower, following disappointing core machinery orders

by Karee Venema

Published on Sep 10, 2015 at 8:23 AM
Updated on Sep 10, 2015 at 8:24 AM

It was another volatile day of trading in Asia, with most of the action resolving to the downside. Hong Kong's Hang Seng swallowed the heftiest losses -- shedding 2.6% -- while China's Shanghai Composite dropped 1.4%, following a wider-than-expected drop in the country's producer price index (PPI). Speaking at the World Economic Forum today, China's Premier Li Keqiang said the mainland remains on pace to achieve its 7% growth target for 2015, and dispelled concerns about a "hard landing" for the economy.

All eyes were on Japan's Nikkei, though, which moved sharply lower in the wake of Wednesday's eyebrow-raising rally. Specifically, the index surrendered 2.5%, thanks to a disappointing reading on core machinery orders. South Korea's Kospi, meanwhile, bucked the regional bearish trend -- tacking on 1.4%, amid a jump in shipbuilders.

European benchmarks are wallowing in the red at midday, pressured by dreary economic data out of Asia. Elsewhere, traders are digesting the latest decision from the Bank of England, which chose to stand pat on its current monetary policy. Against this backdrop, London's FTSE 100 is down 1.3%, the French CAC 40 is off 1.2%, and the German DAX is lingering about 1% below breakeven.

150910overseas


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
CE Stock Heading into Bullish Month
Celanese stock is coming off a free fall from its all-time-high in late 2019
HD Stock Sinks on Bear Notes, In-Store Changes
Home Depot stock received price target cuts after sharing in-store changes
Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.