Overseas Trading: China Cheers Retail Sales; Europe Looks Ahead to Draghi

A solid report on Chinese retail sales sparked optimism at the start of the Singles' Day holiday

by Elizabeth Harrow

Published on Nov 11, 2015 at 8:28 AM

Asian markets were little changed today. Traders considered a mixed bag of economic data out of China; industrial output fell short of estimates, but stronger-than-forecast retail sales sparked some mild optimism as Singles' Day commenced. Meanwhile, following Tuesday's sharp losses for Apple Inc. (NASDAQ:AAPL), many of the tech giant's suppliers traded lower. By the close, China's Shanghai Composite added 0.3%, Japan's Nikkei tacked on 0.1%, South Korea's Kospi added 0.03%, and Hong Kong's Hang Seng slipped 0.2%.

European stocks are comfortably higher at midday, with traders looking ahead to an afternoon speech from European Central Bank (ECB) President Mario Draghi -- who has recently adopted a dovish tone regarding eurozone monetary policy. At last check, the German DAX has jumped 1.5%, the French CAC 40 is up over 1%, and London's FTSE 100 has climbed 0.6%.

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