Overseas Trading: Hong Kong Rallies on Tech Earnings; Europe Shrugs Off Draghi

Hong Kong stocks ended comfortably higher on upbeat tech earnings, while dovish comments from ECB President Mario Draghi failed to boost European stocks

Nov 12, 2015 at 8:28 AM
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Hong Kong was the standout performer in Asia today, with the Hang Seng adding 2.4% to defy an otherwise unimpressive day in the region. Upbeat tech earnings set the tone, with Semiconductor Manufacturing International's 14.3% gain leading the charge. Japan's Nikkei also managed a positive finish, adding 0.03% as a rebound in core machinery orders helped offset a strengthening yen. On the other hand, China's Shanghai Composite ended down 0.5%, while South Korea's Kospi slipped 0.2%.

European markets are lower across the board at midday, despite accommodative remarks from European Central Bank (ECB) President Mario Draghi. A bleak forecast from Rolls-Royce has the stock down more than 21% in London, with other aerospace stocks tumbling in sympathy. At last check, the French CAC 40 is nearly 1% lower, the German DAX is down 0.8%, and London's FTSE 100 is off 0.6%.

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