Overseas Trading: Exports Hit Japan; Bayer Weighs On German Stocks

Exports in Japan slumped last month, and stocks in Germany are lower after an official bid from Bayer AG for Monsanto Company (NYSE:MON)

May 23, 2016 at 8:44 AM
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Stocks in Asia finished the day mixed, as G-7 talks in Japan have so far failed to result in an agreement on how to deal with a lackluster global economy. Japan's Nikkei slipped 0.5% on a stronger yen, following a round of economic data showing the country's exports fell by 10.1% year-over-year, while imports dropped 23.3% for the period. Hong Kong's Hang Seng gave up 0.2% for the day.

Meanwhile, China's Shanghai Composite added 0.7%. The South Korean Kospi also ended the day higher, climbing 0.4%.

Markets in Europe are covered in red at midday. Germany's DAX is off 0.7%, as Bayer AG takes a big dip following its $62 billion bid for Monsanto Company (NYSE:MON). Falling crude oil and metals prices are also weighing on stocks across the continent, with France's CAC 40 last seen 0.7% lower. London's FTSE 100 is down 0.2%, amid reports that the U.K. Treasury will warn that a "Brexit" could result in a year-long recession for Britain. 

overseas stocks may 23


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