Overseas Trading: China Sits Out Asia Rally; Oil Drills Europe

Stocks in Asia were mostly higher on oil's bounce, but the commodity's reversal lower is weighing on European markets

Jan 27, 2016 at 8:35 AM
facebook X logo linkedin


Asian markets finished higher for the most part, helped by a positive lead on Wall Street and an overnight bump in oil futures. Japan's Nikkei soared 2.7% to pace the region, while South Korea's Kospi and Hong Kong's Hang Seng added a respective 1.4% and 1%. The lone outlier was China's Shanghai Composite, pressured lower by a seventh straight monthly drop in industrial profits, concern over steep capital outflows, and a weaker yuan. The index finished on a loss of 0.5% -- after being down over 4% at its intraday low -- and is on pace for its worst single-month performance since October 2008.

Stocks in Europe are struggling after crude oil reversed lower, with traders digesting a downbeat round of earnings reports and bracing for the Fed's policy statement, due out this afternoon. Germany's DAX was last seen 0.5% lower, as chemical giant BASF gets drilled on a sharper-than-forecast drop in full-year earnings. Meanwhile, London's FTSE 100 has slipped 0.3%, and the French CAC 40 is down 0.4%.


160127overseas

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI