Overseas Trading: Merger News Sends China, Hong Kong Sharply Higher

Merger talks in the shipping sector contributed to big wins for traders in China and Hong Kong

by Elizabeth Harrow

Published on Oct 15, 2015 at 8:25 AM

Stocks in China and Hong Kong paced a rally in Asia today, as merger talks between China Merchants Energy Shipping Co. and Sinotrans & CSC Holdings Co. bolstered sentiment. Additionally, following soft U.S. inflation and retail data on Wednesday, traders across the region priced in lower expectations for a Federal Reserve rate hike this year. On the currency front, a backpedaling yen supported upside for Tokyo-listed stocks, while the won surged after the Bank of Korea opted to stand pat on monetary policy. By the close, China's Shanghai Composite jumped 2.3% and Hong Kong's Hang Seng added 2%, while Japan's Nikkei and South Korea's Kospi each advanced 1.2%.

Europe is also on higher ground at midday, as expectations for a more dovish U.S. Fed give bulls a confidence boost. However, luxury retailers are lagging once again, after Burberry cited an "increasingly challenging environment" for its Chinese patrons as one of the factors behind its disappointing first-half sales numbers. At last check, the German DAX is up 1.7%, the French CAC 40 has advanced 1.1%, and London's FTSE 100 is 1% higher.

Overseas markets 1015


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.
Apparel Name Boosted By Earnings Beat
Three analysts have moved their price targets down to $60
Black & Decker Withdraws 2020 Guidance, Cuts Non-Essential Staff
Black & Decker said it would reduce any non-essential staff and decided to withdraw its 2020 forecast
Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.