Overseas Trading: Europe Stocks Dip After ECB Minutes

Stocks in China sold off ahead of the end of a short-selling ban

Apr 7, 2016 at 8:43 AM
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Stocks in Asia finished mixed after a strong Wednesday close on Wall Street, as crude futures rose on a drop in U.S. stockpiles. China's Shanghai Composite gave up 1.4% ahead of the end of a three-month ban on short selling for large shareholders. Meanwhile, Japan's Nikkei snapped its losing streak, adding 0.2% despite the yen surging to an 18-month high against the U.S. dollar. Hong Kong's Hang Seng finished 0.3% higher, and South Korea's Kospi climbed 0.1%.

European markets are in the red at midday, as traders digest the latest minutes from the European Central Bank (ECB) meeting, which said "the Governing Council would not rule out future cuts in policy rates, as new shocks could change the outlook for inflation." However, after March's surprise stimulus move, the central bank said "further rate reductions would not be anticipated at this stage." At last check, London's FTSE 100 was off 0.2%, while France's CAC 40 and the German DAX had shed 0.4% each.

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