Overseas Trading: Japan Stocks Tumble on Rate-Cut Concerns

Japanese markets fell following a report that the Bank of Japan could cut already negative interest rates even more next week

by Alex Eppstein

Published on Sep 14, 2016 at 8:42 AM

Asia tracked the bearish trajectory of U.S. markets, ahead of key central bank meetings next week in Japan and the U.S. In particular, energy stocks struggled as crude oil prices pulled back on concerns about oversupply and weak demand.

Drilling down to the indexes, Japan's Nikkei lost 0.7% following a report that the Bank of Japan could cut already negative interest rates even further next week, weighing on bank stocks. China's Shanghai Composite also gave up 0.7%, while Hong Kong's Hang Seng dipped 0.1%. South Korean markets were shuttered for the Harvest Festival holiday.

European bourses are edging higher despite ongoing uncertainty about a potential Fed interest rate hike. Major M&A news also hit, as German conglomerate Bayer AG agreed to acquire U.S.-based Monsanto Company (NYSE:MON) after lifting its buyout bid. At last check, the German DAX has tacked on 0.4%, London's FTSE 100 has advanced 0.6%, and the French CAC 40 is staring at a more modest 0.04% gain.

overseas trading september 14

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