Overseas Trading: Global Stocks Gain; Apple Dealt a Blow

Japanese stocks struggled despite a generally upbeat round of data, while Apple Inc. (AAPL) is under fire in Europe

Aug 30, 2016 at 8:37 AM
facebook twitter linkedin

Stocks in Asia mostly settled higher, as crude futures edged up in overnight trading, boosting energy shares. Healthy gains in U.S. markets served as a positive catalyst, as well. In terms of individual indexes, Hong Kong's Hang Seng led the way, adding 0.9%. China's Shanghai Composite tacked on 0.2%, while South Korea's Kospi rallied 0.4%.

Bucking the regional trend higher was Japan's Nikkei, which ended a hair lower, losing less than 0.1%. The slip came in spite of a narrower-than-forecast drop in both household spending and retail sales, as well as a 21-year low in the unemployment rate.

Despite a downbeat day for mining stocks amid sliding commodity prices, European markets are up at midday. Without any earnings reports to digest, traders are reacting to the European Commission's ruling against Apple Inc.'s (NASDAQ:AAPL) tax arrangement with Ireland. At last check, France's CAC 40 and Germany's DAX are 0.8% and 1% higher, respectively, while London's FTSE 100 is more or less flat.

overseas trading august 30

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. 


Special Offers from Schaeffer's Trading Partners