Overseas Trading: Global Stocks Climb Ahead of Yellen, 'Brexit'

The U.K. will vote whether to stay in the EU on Thursday, and the latest polls are mixed

by Karee Venema

Published on Jun 21, 2016 at 8:48 AM

Most Asian markets finished higher, on the back of Monday's massive gains. Stocks continued to react to the upcoming "Brexit" referendum, with recent polls mixed following the murder of U.K. lawmaker Jo Cox last week. Additionally, optimism was on the rise ahead of U.S. Fed Chair Janet Yellen's two-day testimony in front of Congress, which kicks off later today.

Japan's Nikkei outpaced its regional peers, tacking on 1.3% as the yen weakened. Finance Minister Taro Aso weighed in on the currency, saying the government has "no intention to easily resort to foreign exchange intervention" -- a quick switch from last week's position. Elsewhere, Hong Kong's Hang Seng added 0.8%, and South Korea's Kospi edged 0.1% higher. China's Shanghai Composite, meanwhile, gave back 0.3%.

European benchmarks are in the green at midday, after notching their best session since August on Monday. While Thursday's "Brexit" vote remains front and center, speculators will also be eyeing an upcoming speech from European Central Bank (ECB) President Mario Draghi, after Germany's constitutional court ruled in favor of the ECB's Outright Monetary Transactions (OMT) program. At last check, the French CAC 40 is up 0.7%, the German DAX is 0.5% higher, and London's FTSE 100 has added 0.1% as the British pound climbs to its loftiest level since early January.

Overseas Trading June 21

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. 


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Planet Fitness Stock Lifted Amid Re-Opening Optimism
Planet Fitness reopened around 800 facilities in North America
Coffee Stock Drops Despite Cost-Cutting Initiatives
Starbucks asked employees to further limit working hours or take unpaid leave
The Big Bankruptcy You Should Be Afraid Of
Porter Stansberry is making a concerning prediction.