Overseas Trading: Automakers, Yellen Lift Europe; China Drags

The Shanghai Composite closed lower yet again amid dwindling volume, while automakers recovered in a big way in Europe

Josh Selway

Sep 25, 2015 at 8:36 AM

Asian bourses ended the week on a mixed note, after Fed Chair Janet Yellen said in a speech Thursday night she still expects the U.S. central bank to raise interest rates this year. China's Shanghai Composite settled 1.6% below breakeven, with small-caps shouldering much of the blow only a few days after outperforming their peers. According to Reuters, weekly trading volumes in the country have fallen roughly 80% since July.

Elsewhere, a 1% decline from Samsung Electronics contributed to a 0.2% setback for South Korea's Kospi. Hong Kong's Hang Seng closed 0.4% higher, while Japan's Nikkei was able to recover from Thursday's beating, picking up 1.8% amid renewed hopes for accommodation from the Bank of Japan.

Stocks in Europe have gotten a jolt from Yellen's rate-hike comments, with automakers bouncing back from their Volkswagen-induced swoon. Elsewhere, athletic apparel firm Adidas got a boost from sector peer Nike Inc (NYSE:NKE), which impressed in its earnings report Thursday evening. France's CAC 40 is leading the way at midday with a 3.6% rally, followed by a 2.9% advance for Germany's DAX. London's FTSE 100 is 2.5% higher at last check.

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