Overseas Trading: China Bucks Global Rally; ECB Minutes in Focus

Most global benchmarks have followed their U.S. counterparts into the green

Feb 18, 2016 at 8:47 AM
facebook X logo linkedin


Most Asian benchmarks settled higher today, buoyed by a bullish session on Wall Street and a sharp rally in oil prices. In Japan, the Nikkei jumped 2.3%, despite a strengthening yen and data that showed January exports slipped a worse-than-expected 12.9%. Elsewhere, Hong Kong's Hang Seng also rallied 2.3%, while South Korea's Kospi tacked on 1.3%. China's Shanghai Composite, however, failed to capitalize on the regional uptrend -- shedding 0.2%, following multiple reports of fraudulent loans and mixed inflation data. Although Beijing's consumer price index rose a year-over-year 1.8% last month, its producer price index fell 5.3%.

European markets are mostly up at midday, as crude futures extend yesterday's positive price action on hopes of a global production freeze. Traders are also digesting the minutes from the latest European Central Bank (ECB) meeting, at which ECB President Mario Draghi said the central bank could possibly "reconsider" its stance on interest rates at its March meeting. At last check, the German DAX was up 1.7%, while the French CAC 40 was flirting with a 0.9% lead. London's FTSE 100, meanwhile, is off 0.3% as European Union (EU) leaders meet to discuss a possible "Brexit."

160218overseas

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.

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*