Overseas Trading: Asia Stocks Rally; FTSE 100 Could Snap Winning Streak

Asia stocks ended higher, following Wall Street's lead, but sinking oil prices are weighing on stocks in Europe

by Kirra Fedyszyn

Published on Mar 2, 2016 at 8:44 AM

Following Wall Street's lead, stocks in Asia enjoyed a strong session, shaking off a late slump in crude oil prices. China shrugged off a downgrade of its credit rating to "negative" from "stable" at Moody's, while exporters paced the Japan rally. The Shanghai Composite finished 4.3% higher, while Japan's Nikkei gained 4.1%. Hong Kong's Hang Seng gained 3.1%, while South Korea's Kospi climbed 1.6%.

European markets are mostly higher at midday, taking cues from Wall Street and Asia. However, a drop in oil prices has most indexes off their session highs. At last check, London's FTSE 100 is off 0.3% -- on pace to snap a four-day winning streak -- while France's CAC 40 is 0.1% ahead, and the German DAX has added 0.4%.

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