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

Mar 2, 2016 at 8:44 AM
facebook twitter linkedin


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%.

160302OS


Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners