Overseas Trading: Global Stocks Mixed After Fed Minutes

A stronger yen sent Japan's Nikkei tumbling, while European stocks are posting modest gains at midday

Aug 18, 2016 at 8:44 AM
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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. 

Overseas Trading August 18


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