Overseas Trading: Japan's Nikkei Dips Despite Pokemon Go Launch

Global stocks are finishing the week mixed, reacting to a round of earnings and economic news

Jul 22, 2016 at 8:54 AM
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Asian stocks closed lower, despite the highly anticipated launch of Pokemon Go in Japan. In fact, the Nikkei gave up 1.1% for the day following Thursday's comments from Bank of Japan Governor Haruhiko Kuroda that "helicopter money" is not on the way. A stronger yen also weighed on exporters, and oil prices fell during the session.

Elsewhere in the region, markets followed crude oil lower. China's Shanghai Composite dropped 0.9% amid widespread profit-taking, Hong Kong's Hang Seng shed 0.2%, and South Korea's Kospi ended 0.1% lower.

Markets in Europe are mixed at midday, as traders consider a hefty round of earnings and mixed economic data. Markit's purchasing managers index (PMI) for the U.K. dropped into contraction territory after the "Brexit" vote, with the composite PMI falling to a seven-year low in June, sending the pound lower against the dollar. Property and banking stocks are among the weakest performers so far today, while telecom interests are climbing after Vodafone reported a strong rise in organic service revenue. At last check, London's FTSE 100 is up 0.4%, France's CAC 40 has added 0.2%, and the German DAX is just below breakeven.

overseas stocks july 22

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