Overseas Trading: Stronger Yen Hits Japan Stocks; U.K. Inflation in Focus

A stronger yen hit Japan stocks, while traders in Europe are reacting to U.K. inflation data

by Josh Selway

Published on Aug 16, 2016 at 8:46 AM
Updated on Aug 16, 2016 at 8:46 AM

Asian markets ended lower today, despite record closes on U.S. indexes. Weighing on stocks were sliding oil prices, on top of a weakening dollar. Most notably, Japan's yen strengthened considerably, sending the Nikkei to a 1.6% loss by the close -- with exporters getting hit hard.

Elsewhere, China's Shanghai Composite gave back 0.5% following Monday's big win, amid profit-taking on bank stocks, while Hong Kong's Hang Seng dipped 0.1%. Separately, the much-hyped Shenzhen-Hong Kong exchange trading link officially received government approval, though an exact date for its launch wasn't specified. In South Korea, the Kospi shed 0.1% after being closed on Monday for a holiday.

Stocks in Europe are moving lower, as well, though better-than-expected adjusted earnings from BHP Billiton has mining stocks outperforming. Also, traders are digesting the latest inflation data out of the U.K., with consumer prices in July rising the most in nearly two years. Meanwhile, the sliding dollar continues to lift the euro and the pound. At last check, Germany's DAX was down 0.7%, France's CAC 40 was off 0.6%, and London's FTSE 100 was down 0.3%. 

Overseas Trading August 16

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. 


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.
Wall Street Reclaims Two Key Trendlines This Week
U.S.-China tensions and dire economic data still weigh, though
Dell Stock Jumps on Upbeat First Quarter
DELL announced an upbeat first-quarter report
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.