Overseas Trading: Global Stocks React to Turkey, SoftBank

Stocks in Asia and Europe are mixed following the failed military coup in Turkey

Jul 18, 2016 at 8:43 AM
facebook twitter linkedin

Stocks in Asia closed mostly higher, as tensions eased following a failed military coup in Turkey. Hong Kong's Hang Seng managed a 0.7% win, while South Korea's Kospi tacked on 0.2%. In China, however, the Shanghai Composite closed lower, giving back 0.3%, after data signaled lower-than-expected growth in home prices. Japan's Nikkei, meanwhile, was closed for holiday, following its best week in years

European stocks are mixed at midday. In addition to weekend developments in Turkey, stocks are reacting to a 40% M&A boost for U.K.-based ARM Holdings, after Japanese telecom giant SoftBank announced plans to buy the semiconductor firm for around $32 billion. Traders are also eyeing a sector-wide sell-off in mining stocks, following a round of bearish analyst attention.

Looking at the indexes, London's FTSE 100 is up 0.4%, Germany's DAX is hovering near breakeven. France's CAC 40, meanwhile, has slipped 0.2%, amid the country's third day of mourning in the wake of last week's deadly terrorist attack in Nice.

Overseas Trading 2 July 18 

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