Overseas Trading: Rising Yen Drops Tokyo Stocks

Stocks in in Japan closed lower, as the yen gained ground against the U.S. dollar

Sep 7, 2016 at 8:47 AM
facebook twitter linkedin


Markets in Asia ended the session mostly lower, after Tuesday's Institute for Supply Management (ISM) non-manufacturing index in the U.S. came in at its lowest level in more than six years. The data has traders lowering expectations that the Federal Reserve will raise interest rates this month, causing the U.S. dollar to weaken against a basket of foreign currencies.

Specifically, a stronger yen weighed on exporters in Japan, sending the Nikkei down 0.4% on the day. Elsewhere in the region, Hong Kong's Hang Seng and South Korea's Kospi each gave up 0.2%. China's Shanghai Composite bucked the downbeat trend, however, adding 0.05%.

Stocks in Europe are in the black ahead of tomorrow's European Central Bank (ECB) policy-setting meeting, as energy and tech stocks trade higher. Germany's DAX is up 0.3%, despite data showing July's industrial output fell by 1.5% -- its largest monthly drop in roughly two years. London's FTSE 100 is nearly 0.1% higher, as Bank of England (BoE) Governor Mark Carney prepares to answer lawmakers' questions over the central bank's post-Brexit stimulus measures. Rounding out the region, France's CAC 40 has added 0.2%.

overseas stocks september 7

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. 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners