Overseas Trading: Rate-Hike Fears Ripple Through Global Markets

Stocks in China and Hong Kong slid after trading-link talk failed to materialize

May 18, 2016 at 8:33 AM
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Stocks in Asia retreated amid mounting fears that today's release of the latest Fed meeting minutes could send rate-hike signals, stoked by hawkish remarks from a pair of regional Fed presidents yesterday. China's Shanghai Composite and Hong Kong's Hang Seng were particularly hard-hit, losing 1.3% and 1.5%, respectively, after a high-ranking government official failed to address a highly anticipated Hong Kong-Shenzhen stock-trading link.

Elsewhere, South Korea's Kospi dropped 0.6%. Meanwhile, Japan's Nikkei ended a choppy session 0.05% lower, as the nation's first-quarter gross domestic product (GDP) signaled stronger-than-expected economic growth.

European markets are also buckling under rate-hike jitters, with a stronger dollar taking a toll on mining stocks. At last check, London's FTSE 100 is off 0.4%, pressured by steep post-earnings losses at luxury apparel brand Burberry. The French CAC 40 and German DAX are struggling, as well, down a respective 0.2% and 0.3%.

overseas trading may 18

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