Overseas Trading: Oil Sinks Stocks; Japan Snaps Win Streak

There's little appetite for stocks around the globe, ahead of the release of U.S. retail sales

by Josh Selway

Published on May 13, 2016 at 8:46 AM

Stocks in Asia closed lower today, weighed down by falling oil prices and uncertainty ahead of today's economic data out of the U.S. -- including monthly retail sales. Japan's Nikkei snapped its four-day winning streak with a 1.4% loss, pressured by a resurgent yen and a tough day for mining and materials stocks. 

Elsewhere, China's Shanghai Composite dropped another 0.3% -- capping its fourth consecutive weekly loss, the longest streak in two years -- and Hong Kong's Hang Seng slid 1%. South Korea's Kospi rounded out the decliners with a 0.5% retreat, as the Bank of Korea left its monetary policy as is.

Stocks are mostly lower in Europe, too, after data revealed slower-than-expected first-quarter growth for the eurozone economy. A drop in crude oil prices is also hurting sentiment, as are heavy losses from automakers Volkswagen and BMW. London's FTSE 100 has lost 0.5% so far, and France's CAC 40 is down 0.4%. However, Germany's DAX is clinging to a 0.02% lead, after the country's strong first-quarter gross domestic product (GDP) release. 

overseas markets May 13

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