Overseas Trading: European Stocks Reel on Brussels Bombings

A seven-day winning streak for Chinese stocks came to an end, while all eyes are on Brussels following a pair of deadly explosions

Mar 22, 2016 at 8:37 AM

Asian stocks finished the session mixed, with the biggest move coming out of Japan. Specifically, the Tokyo-based Nikkei shot 1.9% higher on a weaker yen, boosting exporters. Elsewhere, China's Shanghai Composite retreated 0.6% following Monday's big bounce, snapping a seven-day winning streak. Stocks faced pressure after the People's Bank of China said that a quote from Governor Zhou Xiaochuan encouraging investment in stocks had been misinterpreted. Rounding things out, South Korea's Kospi gained nearly 0.4%, while Hong Kong's Hang Seng finished down about 0.1%.

A series of explosions in Brussels that killed at least 21 people is taking a toll on European markets, especially among travel stocks. London's FTSE 100 and the French CAC 40 have each lost 0.6%, while the German DAX is off 0.4%. On the data front, traders in France and Germany are digesting mixed purchasing managers index (PMI) readings.

160322overseas

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.

Follow @Schaeffers

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released!