Overseas Trading: Yen Talk Boosts Japan, Asian Stocks

Comments on the yen from Japan's finance minister sent stocks in Asia higher

Josh Selway

May 10, 2016 at 8:40 AM

Stocks in Asia closed higher, led by a rally in Japan. Specifically, the Tokyo-based Nikkei jumped 2.2%, after Japan's finance minister, Taro Aso, suggested the government would intervene if the yen strengthened against the dollar.

Gains were less impressive in China -- with the Shanghai Composite adding just 0.04% -- after inflation data for April came in below expectations and producer prices fell less than forecast. Meanwhile, Hong Kong's Hang Seng picked up 0.4%, and South Korea's Kospi added 0.8%.

Stocks in Europe are taking cues from a bounce in crude oil prices, the latest round of corporate earnings, and gains in Asia, trading higher at midday. Mining stocks recovered on higher metal prices, leading all sectors. Meanwhile, banking giant Credit Suisse is rallying thanks to better-than-expected first-quarter numbers. Germany's DAX was last seen 0.5% higher, France's CAC 40 was up 0.3%, and London's FTSE 100 has added 0.2% thus far.

Overseas Markets May 10

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.

Follow @Schaeffers

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released!