Overseas Trading: Global Stocks Shrug Off Hawk Talk

The G-7 meeting has commenced in Japan, while investigations into the EgyptAir plane crash are ongoing

by Alex Eppstein

Published on May 20, 2016 at 8:37 AM

A rise in crude oil prices served as a positive catalyst for stocks in Asia, helping them shrug off more hawkish rhetoric from U.S. Fed officials, including New York Fed President William Dudley. Japan's Nikkei added 0.5% amid the kickoff of the Group of Seven (G-7) meeting in Sendai.

Elsewhere, China's Shanghai Composite rose 0.7% and Hong Kong's Hang Seng tacked on 0.8%, for their first weekly advances in five and four weeks, respectively. Rounding things out, South Korea's Kospi edged 0.05% higher.

European stocks are following in the bullish footsteps of their Asian peers, led by gains in shares of energy companies. The EgyptAir crash continues to dominate headlines, as well -- while pressuring airline stocks -- with U.S. and Egyptian officials signaling that it was likely an act of terrorism. At last check, London's FTSE 100 is up 1.2%, the French CAC 40 has advanced 0.9%, and Germany's DAX is 0.8% higher.

overseas trading may 20

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