Overseas Trading: Global Stocks Slip as Commodities Weigh on Sentiment

China managed a slim gain, while most Asian stocks closed lower yet again

by Elizabeth Harrow

Published on Dec 9, 2015 at 8:26 AM

Most Asian markets settled lower again today, as depressed commodity prices kept a damper on sentiment. Japan's Nikkei reversed early gains inspired by an unexpected surge in core machinery orders to close nearly 1% lower. Hong Kong's Hang Seng followed suit with a 0.5% downturn, while South Korea's Kospi shed 0.04%. Stocks in mainland China bucked the bearish trend, closing up 0.09%, after the People's Bank of China (PBOC) set the yuan reference rate at a four-year low against the dollar.

European stocks are also in the red at midday, despite a modest bounce in oil prices. Miners remain a notable pocket of weakness; while Rio Tinto is recovering from Tuesday's slide, Anglo American has shed another 7% following a Jefferies downgrade to "underperform." At last check, the French CAC 40 is off 0.8%, the German DAX has dipped 0.5%, and London's FTSE 100 is 0.1% lower.


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