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

Aug 16, 2016 at 8:46 AM
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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

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