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
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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

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