Overseas Trading: Nikkei Rises On Stimulus Talk; ECB Decision in Focus

The European Central Bank (ECB) decided to keep interest rates unchanged

by Josh Selway

Published on Jul 21, 2016 at 8:40 AM
Updated on Jun 24, 2020 at 10:16 AM

Stock markets in Asia closed mostly higher, thanks to renewed stimulus talk out of Japan. Specifically, Japanese news outlets reported the country is considering a roughly $188 billion stimulus package -- much higher than previously expected. At the same time, Bank of Japan (BoJ) Governor Haruhiko Kuroda dismissed the idea of "helicopter money" during an interview. By the close, Japan's Nikkei was up 0.8%. 

Elsewhere, China's Shanghai Composite managed a 0.4% win, and Hong Kong's Hang Seng closed 0.5% higher. South Korea's Kospi bucked the region's upbeat trend, however, falling 0.2%. 

Over in Europe, the focus is on the European Central Bank's (ECB) decision keep interest rates unchanged, and the subsequent press conference from bank president Mario Draghi. In the meantime, stocks are mostly lower, with travel names falling hard after German airliner Lufthansa lowered its full-year outlook due to the recent terrorist attacks and political uncertainty. London's FTSE 100 was last seen 0.5% lower, France's CAC 40 is down 0.4%, and Germany's DAX is off 0.1%. 

Overseas Trading July 21
 

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