Stocks in Asia and Europe are surging, though Japanese markets struggled amid a stronger yen
Asian stocks largely rallied on yesterday's
dovish remarks from Fed Chair Janet Yellen, as well as a rebound in oil prices. China's Shanghai Composite led the way with a 2.8% jump, amid speculation about potential government support. Similarly, Hong Kong's Hang Seng and South Korea's Kospi rallied a respective 2.2% and 0.4%. Bucking the bullish trend was Japan's Nikkei, which fell 1.3% after industrial output fell more than expected -- and as exporters again faced pressure from a stronger yen.
Yellen's speech is serving as an upward catalyst in Europe, as well, especially among commodity stocks. Germany's DAX is up 1.8%, with shares of retailer Metro soaring 11% on plans to split in two. Elsewhere, London's FTSE 100 has shot 1.7% higher, while France's CAC 40 has added 1.9%.
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