Overseas Trading: Global Stocks Drop with Oil; Tokyo Tumbles on Stimulus Concerns

Traders in Tokyo are concerned that the Bank of Japan isn't doing enough to support the economy

Aug 2, 2016 at 8:37 AM
facebook twitter linkedin


Asian markets finished lower for the most part, with Japanese bonds tanking amid fears that the Bank of Japan may tap the brakes on its stimulus efforts. Stocks in Tokyo also reacted negatively to falling oil prices, helping pressure the Nikkei 1.5% lower.

Elsewhere, South Korea's Kospi gave back 0.5%, and China's Shanghai Composite bucked the regional trend lower, tacking on 0.6%. Separately, Hong Kong markets were closed due to a typhoon warning.

Stocks in Europe are sliding, again led lower by bank stocks -- with German financial issue Commerzbank among the biggest laggards, down 7% on a bleak profit forecast. Also struggling are oil stocks, as crude continues to falter amid overproduction concerns. At last check, London's FTSE 100 is down 0.5%, the French CAC 40 has plunged 1.6%, and the German DAX is 1.4% lower.

Overseas Trading August 2

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! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners