Traders in China played catch-up with the last week's worth of regional gains
Chinese stocks came roaring back from their holiday break, with Shanghai's Composite surging 3% as traders finally got a chance to respond to the last week's worth of news -- including the latest
mainland manufacturing data. Action was more subdued across the rest of the region, as the Bank of Japan's
inaction on monetary policy was followed today by a surprise drop in Japanese machinery orders. By the close, South Korea's Kospi was up 0.7%, Hong Kong's Hang Seng was off 0.7%, and Japan's Nikkei was roughly 1% lower.
European stocks are just barely higher at midday, as oil stocks wobble after Wednesday's big rally. Traders are also weighing a steep decline in German exports, and the Bank of England's decision to stand pat on interest rates. At last look, London's FTSE 100 is up 0.4%, the German DAX has gained 0.3%, and France's CAC 40 is fractionally higher.
