Overseas Trading: Global Stocks React to Turkey, SoftBank

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

by Josh Selway

Published on Jul 18, 2016 at 8:43 AM

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 

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