Overseas Trading: Fed Minutes Lift International Markets

Stocks in China extended their run higher, thanks to the latest FOMC minutes

Oct 9, 2015 at 8:38 AM

Stocks in Asia rallied following overnight gains in U.S. markets, after the release of the Federal Open Market Committee's (FOMC) September meeting minutes, which signaled a "wait and see" approach to the central bank's planned interest rate hike. Meanwhile, higher oil prices proved a boon to energy names throughout the region. Drilling down, China's Shanghai Composite extended its post-holiday advance, tacking on another 1.3% amid the kickoff of earnings season. Elsewhere, Hong Kong's Hang Seng added 0.5%, while Japan's Nikkei popped 1.6%. Markets in South Korea were closed for holiday.

The Fed minutes are also lifting European bourses, with basic materials and mining stocks leading the way. At last check, London's FTSE 100 is up 1.1%, even though Bank of England Governor Mark Carney said the bank's eventual rate liftoff is not necessarily dependent on the Fed's actions. Elsewhere, the French CAC 40 and German DAX have jumped 1.1% and 1.3%, respectively.

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