Overseas Trading: Stronger Yen Rocks Japan Stocks; BoE Stands Pat

A stronger yen weighed on Japanese stocks, while U.K. markets are edging higher on upbeat retail sales data

by Alex Eppstein

Published on Sep 15, 2016 at 8:32 AM
Updated on Jun 24, 2020 at 10:16 AM

It was a mixed finish in Asia today. Hogging the attention, Japan's Nikkei plummeted to a 1.3% loss, as a stronger yen weighed on export stocks. Uncertainty ahead of the Bank of Japan's (BoJ) policy meeting next week also acted as a negative catalyst, hitting real estate and financial stocks, in particular.

Elsewhere, Hong Kong's Hang Seng enjoyed a 0.6% lift, powered by gains in gaming stocks like Wynn Macau, up over 6%. Markets in mainland China and South Korea, meanwhile, were shuttered for public holidays.

European markets are mixed, with traders striking a cautious stance ahead of next week's BoJ and Fed meetings. London's FTSE 100 is up 0.2% following better-than-expected retail sales for August and an uptick in crude oil prices. Separately, the Bank of England (BoE) decided not to change interest rates, as was expected. Elsewhere, the German DAX is nearly 0.1% higher, while the French CAC 40 has given back 0.4%.

overseas trading september 15

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