A stronger yen sent Japan's Nikkei tumbling, while European stocks are posting modest gains at midday
Stocks in Asia closed mixed, as traders considered the
latest Fed meeting minutes out of the U.S. In Japan, the Nikkei ended on a 1.6% loss, as a stronger yen put pressure on stocks, especially exporters. Also dampening sentiment was news that Japanese exports fell 14% year-over-year in July -- the largest drop in seven years.
China's Shanghai Composite also closed lower, giving back 0.2%, though stocks in Hong Kong managed strong gains. Specifically, the Hang Seng picked up 1%, with traders cheering the approval of the
Shenzhen-Hong Kong exchange trading link. Rounding things out, South Korea's Kospi added 0.6%.
Over in Europe, stocks are edging higher at midday. Aside from the relatively dovish Fed meeting minutes out of the U.S., traders are also responding to stronger-than-expected retail sales out of the U.K. Speaking of retailers, Kingfisher is rallying on promising same-store sales, while elsewhere alternative energy stock Vestas Wind Systems AS has soared to eight-year highs on upbeat guidance. Looking at the indexes, Germany's DAX was last seen 0.3% higher, London's FTSE 100 was up 0.1%, and France's CAC 40 had managed just a 0.04% gain, even after the country's jobless rate hit a nearly four-year low.
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