Overseas Trading: Nikkei Closes Best Week in Years; Europe Drops After Nice Attack

Japan had its best week since 2009 on stimulus hopes and strong China data

Jul 15, 2016 at 8:44 AM
facebook twitter linkedin

Stock markets in Asia closed mostly higher to cap off a strong week, thanks in part to positive economic data out of China. This included a 6.7% year-over-year increase for the country's second-quarter gross domestic product (GDP), which edged out expectations. Retail sales, industrial output, and fixed-asset investing also impressed. China's Shanghai Composite, however, finished in the red, down 0.01%.

Japan's Nikkei finished 0.7% higher, marking its best week since 2009, with a 9.2% weekly gain. An outstanding performance for Japan-based Line Corp (NYSE:LN) in its first session helped push the index higher, as did further gains from Nintendo, which continues to storm higher following the release of its "Pokemon Go" app. Elsewhere, Hong Kong's Hang Seng ended the day up 0.5%, and South Korea's Kospi added 0.4%.

European stocks are lower at midday following an attack in Nice, France, that killed at least 84 people when a man drove a truck through a crowd gathered to watch Bastille Day fireworks. Travel stocks are among the worst-performing names as a result, with French President Francois Hollande saying the attack was of terrorist nature. At last check, London's FTSE 100 is off 0.2%, France's CAC 40 is down 0.4%, and Germany's DAX has dropped 0.1%.

overseas stocks july 15

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. 


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners