5MRD

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. 

 

The $25K Day Trading Barrier is Gone

The long-standing Pattern Day Trader (PDT) rule that required many traders to maintain a $25,000 account balance is no longer standing in the way.

That means more traders can actively pursue short-term opportunities without the barrier that kept so many on the sidelines.

Now it's all about having the right strategy.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.  

👉 Sign up now to receive the next trade

MR content page
 
 
 
 

Follow us on X, Follow us on Twitter