Despite Japan’s outlook China still managed gains as  the Hang Seng adding 0.1% today helped by strong performance from steel. Baoshan Steel and Iron announced plans to buyback 5B Yuan of A shares and jumped the maximum 10% in Shanghai. China Mobile rose 0.6% and was the top booster of the Hang Seng. Foxconn International Holdings dove 8% and is now down 47% in 2012.

Europe is down 0.4% on a doubtful macro-economic outlook as investors are reluctant to trade without stimulus. Spain’s economy contracted further in Q2 giving more incentive for companies to stay away from the region. French Bank Credit Agricole rose 0.6% as it grows closer to closing the deal to sell its Greek arm. Kingfisher, Europe’s biggest home improvement retailer, fell 4.3% after being downgraded by BofA Merrill Lynch to underperform from buy.

Ford is planning of bringing over its Lincoln brand to China, which is expected to be the largest luxury market by 2020.

In commodities, crude and silver are both set to begin up today while gold and natural gas are both down.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu