Overseas Trading: Stocks Mixed Ahead of China GDP, ECB Meeting

Traders are awaiting more economic data out of China and an ECB meeting later this week

by Kirra Fedyszyn

Published on Oct 17, 2016 at 8:46 AM

Markets in Asia had a mixed finish today, as crude oil traded mostly lower during the session. Gaming stocks in the region came under pressure after 18 Australian casino employees from Crown Resorts were detained by Chinese authorities for "suspected involvements in gambling crimes." China's Shanghai Composite shed 0.7%, with traders looking ahead to another data deluge due later this week, including the country's third-quarter gross domestic product (GDP) reading. Hong Kong's Hang Seng followed suit, dropping 0.8%.

Meanwhile, Japan's Nikkei added 0.3% as the yen weakened against the dollar, as the greenback rose on U.S. Fed Chair Janet Yellen's Friday remarks supporting a "high-pressure economy." The weaker yen gave a boost to exporters, including major automakers. South Korea's Kospi also closed higher, up 0.2%, after Galaxy Note 7 smartphone maker Samsung reversed early losses.

European stocks are in the red at midday, with traders taking a cautious stance ahead of a European Central Bank (ECB) meeting later this week. Investors are also digesting an in-line 0.4% increase in eurozone inflation last month. London's FTSE 100 was last seen off 0.6%. France's CAC 40 has shed 0.2%, and Germany's DAX is 0.3% lower, with shares of Deutsche Bank slipping again, as the company has yet to reach a settlement with the U.S. Justice Department.

overseas stocks october 17

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