Overseas Trading: Global Stocks Mixed as Oil Retreats; Samsung Slumps

Global stocks are mixed as a pullback in oil prices weighs against a stronger U.S. dollar

Kirra Fedyszyn
Oct 11, 2016 at 8:49 AM
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Stocks in Asia ended the session mixed, as oil prices pulled back from Monday's highs. Hong Kong's Hang Seng gave up 1.3%, with property stocks taking a hit from reports of new housing-purchase restrictions. South Korea's Kospi dropped 1.2%, as another big loss for Samsung weighed -- with the company calling for a recall of its fire-prone Galaxy Note 7, and saying it will no longer produce that specific smartphone.

On the positive side, Japan's Nikkei added 1%, as a weaker yen overshadowed a 7.5% slip for troubled air bag maker Takata on reports the company is considering filing for bankruptcy in the U.S. China's Shanghai Composite tacked on 0.6%, as the yuan weakened slightly against the dollar.

European markets are broadly higher at midday, even as crude oil slips after the International Energy Agency's (IEA) said global crude supplies rose in September. London's FTSE 100 is up 0.2% after hitting an intraday record high earlier in the session, as the pound fell once again against the U.S. dollar. Elsewhere, France's CAC 40 and Germany's DAX have added 0.3% and 0.4%, respectively, with luxury retail stocks outperforming.

overseas stocks october 11

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