Overseas Trading: Bank of Japan Stands Pat; Resource Stocks Sink Europe

Stocks in Asia and Europe are trading lower, with mining and energy names setting the pace

Josh Selway

Mar 15, 2016 at 8:31 AM

Stock markets around the globe are jittery as traders gear up for the U.S. Federal Open Market Committee's (FOMC) two-day policy meeting, which begins today. In Asia, stocks closed mostly lower -- though China's Shanghai Composite managed a third straight win, adding 0.2%. Hong Kong's Hang Seng and Japan's Nikkei both dropped 0.7%, with the yen edging higher after the Bank of Japan (BOJ) decided to keep its current monetary policy in place. However, the BOJ said additional quantitative easing may be necessary to meet its inflation target. South Korea's Kospi, meanwhile, lost 0.1%.

In Europe, falling oil prices are weighing on shares. Bent crude futures are trading down 2.2% at $38.67 per barrel, pulling energy stocks deep into the red. Mining stocks are also suffering heavy losses at midday. France's CAC 40 was off 1% at last check, while London's FTSE 100 was down 0.7%, and Germany's DAX had fallen 0.6%.

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