Overseas Trading: Asian, European Stocks Soar on Fed Decision

The FOMC's decision to raise interest rates has stocks in China and Europe sharply higher

Dec 17, 2015 at 8:21 AM

Asian markets responded positively to the Federal Open Market Committee's (FOMC) unsurprising rate-hike decision. China's Shanghai Composite led the way with a 1.8% gain on a weaker yuan and strength among financial and real estate stocks. Elsewhere, Japan's Nikkei added 1.6%, shrugging off a weak round of trade data, while Hong Kong's Hang Seng and South Korea's Kospi advanced 0.8% and 0.4%, respectively.

Stocks in Europe are also getting a big boost from the Fed, following the lead of their overseas peers, as banking names in particular rally. Airlines are zooming higher, as well, after winning an appeal against the European Commission. At last check, London's FTSE 100 is up 1.4% amid upbeat retail sales data, the German DAX has jumped 3.2% despite a surprise slip in business sentiment, and France's CAC 40 has tacked on 2.3%.

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