Bad news was good news in Japan today, as dismal export data raised hopes for central bank easing
Chinese stocks were gutted today, with small-caps and property developers among the top laggards in a round of vigorous profit-taking. Thanks in part to an
uninspiring lead from Wall Street, the Shanghai Composite fell nearly 3.1% to notch its largest single-day slump in over a month. Conversely, Japan's Nikkei vaulted 1.9% higher, as weaker-than-forecast export growth stoked anticipation for additional stimulus measures. Elsewhere in the region, South Korea's Kospi managed a 0.2% gain, while markets in Hong Kong were closed for holiday.
European stocks are cautiously higher ahead of Thursday's European Central Bank (ECB) meeting, with analysts split as to whether policymakers may decide to expand the scope of their current bond-buying program. At midday, the German DAX and French CAC 40 are roughly 0.9% higher, while London's FTSE 100 has advanced 0.5%.
