Overseas Trading: Dreary Chinese Data Smacks European Stocks

Data on factory output, retail sales, and investment growth all missed the mark in China

May 16, 2016 at 8:44 AM
facebook twitter linkedin


Asian markets finished higher today, as stocks reacted to Friday's strong retail sales data from the U.S. In Beijing, for example, China's Shanghai Composite added 0.8%, despite a round of dismal economic data released over the weekend, with last month's factory output and retail sales, as well as first-quarter investment growth, all falling short of economists' estimates.

Elsewhere, Hong Kong's Hang Seng tacked on 0.8%, despite swinging wildly lower in intraday action on a rumored "fat finger" trade. Japan's Nikkei, meanwhile, added 0.3% as strong corporate earnings and speculation Prime Minister Shinzo Abe will delay a sales-tax hike overshadowed a wider-than-forecast drop in April's producer price index, while South Korea's Kospi eked out a 0.05% gain.

European benchmarks are in the red at midday -- amid a low-volume session -- as China's dismal economic data stokes concern over the state of the global economy. In fact, not even rallying energy stocks, which are rising in step with oil prices, are giving markets a boost. At last check, the French CAC 40 is off 0.6%, while London's FTSE 100 is down 0.3%. Markets in Germany are closed for holiday.

Overseas Markets May 16

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. 

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners