Overseas Trading: Global Markets Mixed as Oil Slide Continues

Stocks in Asia and Europe are mixed with crude oil prices in focus

Aug 11, 2016 at 8:42 AM
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Asian stocks finished the day mixed, with markets in Japan closed for the Mountain Day holiday. South Korea's Kospi added 0.2% after the Bank of Korea's decision to leave interest rates unchanged, citing a steady pace of economic growth in the U.S. and China. Hong Kong's Hang Seng also finished higher, adding 0.4% for the day, thanks to reports that the Shenzhen-Hong Kong exchange trading link could begin soon. 

China's Shanghai Composite, meanwhile, gave back 0.5% with the yuan strengthening against the dollar as traders await a round of economic reports on Friday. Lower crude oil also weighed on stocks, as Wednesday's U.S. crude inventories report showed a surprise uptick in stockpiles, sending the commodity sliding.

Oil prices are in focus in Europe, as well, sending energy stocks lower. In London, the FTSE 100 is off 0.3% so far today, with homebuilder stocks among the biggest losers following a downbeat report on housing prices out of the U.K. Elsewhere in the region, stocks have been able to shake off crude's slump, with France's CAC 40 last seen 0.6% higher, while Germany's DAX has added 0.4%.

overseas stocks august 11

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