Overseas Trading: Global Stocks Higher on Oil, Cooling Yen

Japan's Finance Minister Taro Aso said the government may act to avoid "one-sided" yen movements

by Karee Venema

Published on Apr 8, 2016 at 8:51 AM
Updated on Jun 24, 2020 at 10:16 AM

It was a mixed session in Asia today, as stocks reacted to a cooling yen. Specifically, the yen pulled back after hitting an 18-month high against the U.S. dollar, after Japan's Finance Minister Taro Aso said the government could "take necessary measures" to avoid "one-sided" currency movements. Against this backdrop, both Japan's Nikkei and Hong Kong's Hang Seng added 0.5%. China's Shanghai Composite, meanwhile, shed 0.8% to log its longest daily losing streak since January, as anticipation builds ahead of Monday's update on inflation. Elsewhere, South Korea's Kospi gave back 0.1%.

European markets are higher at midday. Equities are getting a lift from oil prices, which are rising after Fed Chair Janet Yellen reiterated calls for gradual interest-rate hikes in the U.S. At last check, the German DAX is up 1.2% -- following a surprise jump in the country's trade deficit -- the French CAC 40 is enjoying a 1.1% lead, and London's FTSE 100 is 0.8% higher, despite an unexpected decline in February industrial production.

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