Overseas Trading: Global Stocks Bounce Back as 'Brexit' Fears Ease

Stocks in Asia and Europe are higher today, amid rising crude oil prices and a break from "Brexit" worries, following the death of a British Parliament member

by Kirra Fedyszyn

Published on Jun 17, 2016 at 8:38 AM
Updated on Jun 17, 2016 at 8:38 AM

Stocks in Asia and Europe are higher today, as "Brexit" fears have eased for the moment, with both sides suspending campaigns following Thursday's shooting death of British Parliament member Jo Cox. A rise in oil prices is also boosting the markets, with crude oil turning positive overnight.

Japan's Nikkei led the Asian markets, closing up 1.1% as a relatively weaker yen boosted exporters. Of note, Japanese Finance Minister Taro Aso spoke out against "one-sided, rapid and speculative moves" in the currency market, vowing to "act more firmly than before" to curb yen movement, if necessary. Hong Kong's Hang Seng added 0.7%, China's Shanghai Composite climbed 0.4%, and South Korea's Kospi eked out a gain of less than 0.1%. For the week, however, all major Asian exchanges finished with significant losses, including a 6% slide for the Nikkei.

European markets are also higher at midday, but down for the week, with energy and mining stocks getting a boost amid bouncing crude futures and a weaker dollar. Bank stocks are also among the leading gainers, with a pause from "Brexit" concerns easing recent pressure. London's FTSE 100 is 0.9% higher, France's CAC 40 has added 0.8%, and the German DAX is up 0.5%.

overseas stocks june 17

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