Overseas Trading: Japan Rallies; 'Brexit' Fears Keep BoE in Check

Stocks in Japan scored their best day in over a month, while the Bank of England (BoE) stood pat on interest rates amid 'Brexit' worries

Apr 14, 2016 at 8:43 AM
facebook twitter linkedin

Wall Street's rally on Thursday bled over into Asia, while surprise monetary easing out of Singapore only added to the risk-on attitude. In Japan, the yen fell again against the dollar, giving the Nikkei a third straight impressive win with a 3.2% gain -- its best day since March 2. Also lifting Japanese markets were comments from Bank of Japan (BoJ) Governor Haruhiko Kuroda, who said policymakers wouldn't "hesitate to take additional easing measures" if necessary. Ahead of the country's first-quarter gross domestic product (GDP) release on Friday, China's Shanghai Composite tacked on 0.5%. Hong Kong's Hang Seng ended 0.9% higher, and South Korea's Kospi closed with a 1.8% gain. 

Stocks' gains in Europe are less impressive. Lower Brent crude futures are sapping investor sentiment, as is news that the Bank of England (BoE) left interest rates unchanged in light of ongoing "Brexit" concerns. Among stocks, luxury retailer Burberry is moving lower after reporting disappointing same-store sales -- following the lead of this sector peer. The FTSE 100 has still managed a 0.02% lead at midday, while France's CAC 40 was up 0.1% and Germany's DAX was up 0.2%. 

Overseas Trading April 14

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.


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!