Markets

Wrap Up of Overseas Equity Markets

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As of near 6.55am ET, European stock markets were up from lows seen early in the session. The DAX has erased losses and as of 10:40GMT was up 0.21%, while the FTSE 100 outperformed amid a weaker pound and gained 0.84%. Trade jitters flared up again during the Asian session after the U.S. followed through with the second tranche of China tariffs, which will come into effect on August 23. That put pressure on Chinese markets in particular and CSI and Shanghai Comp closed with losses of 1.61% and 1.27% respectively, despite stronger than expected export growth and a trade surplus with the U.S. that remained near record highs. Topix and Nikkei also erased early gains and both markets closed with losses of -0.08%, while Hang Seng and ASX managed to secure gains of 0.39% and 0.23% respectively. European stocks also struggled earlier in the session, but earnings and energy gains helped to underpin sentiment and U.S. futures also stabilized. Oil prices were slightly down, but the September Nymex future was still trading slightly above US$69 per barrel.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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