Overseas Trading: Japan Stocks Stumble for a Seventh Straight Day

Japan's Nikkei endured a seventh consecutive daily loss, while European markets are on the mend

by Karee Venema

Published on Apr 6, 2016 at 8:44 AM

It was a mixed finish in Asia today, despite rising oil prices and encouraging data out of China's services sector. Among the day's outperformers, South Korea's Kospi tacked on 0.4%, while Hong Kong's Hang Seng edged 0.1% higher -- even as the Nikkei Hong Kong purchasing managers index (PMI) fell to a seven-month low in March. Elsewhere, a strengthening yen pressured Japan's Nikkei to a 0.1% loss -- its seventh consecutive down day -- while China's Shanghai Composite gave back 0.1%, as a drop in employment (the first in more than two years) overshadowed the Caixin services PMI improving to 52.2 in March from 51.2 in February.

European markets are on the mend at midday, as energy stocks gain on crude oil's rally. Additionally, healthcare stocks are higher, following reports that Pfizer and Allergan have decided to end their $160 billion merger amid a fresh set of regulatory hurdles in the U.S. At last check, London's FTSE 100 is up 0.8%, the French CAC 40 is 0.6% higher, and the German DAX is flirting with a 0.1% lead.

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