Overseas Trading: Asian Stocks Track Oil Higher

Asian markets followed the bullish lead of Wall Street, while upbeat earnings abound in the U.K.

May 17, 2016 at 8:36 AM
facebook X logo linkedin


Stocks in Asia largely cruised higher, following the lead of Wall Street and a sharp rise in oil prices. Japan's Nikkei popped 1.1% amid a weaker yen -- though fears persist that the currency could strengthen following next week's G-7 summit in Japan, should officials fail to take up further stimulus measures.

Elsewhere, Hong Kong's Hang Seng jumped 1.2%, as traders took a sunny-side-up approach ahead of tomorrow's Belt and Road Summit -- which could pave the way for a stock-trading link between Hong Kong and mainland Shenzhen. Rounding things out, South Korea's Kospi inched just 0.01% higher, while China's Shanghai Composite retreated 0.3%.

European stocks headed higher out of the gate, but have since reversed course along with crude futures. France's CAC 40 and Germany's DAX are both off 0.1%. However, London's FTSE 100 has added 0.4% following upbeat earnings from Vodafone and Premier Foods, as well as the announcement of a special dividend payout at Taylor Wimpey.

overseas trading may 17

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. 

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI