Overseas Trading: Fading 'Brexit' Concerns Boost Global Stocks

Stocks in Asia and Europe are rallying as "Brexit" fears ease and oil prices rise

by Josh Selway

Published on Jun 29, 2016 at 8:46 AM

Stocks in Asia rose, as "Brexit" fears continued to fade and traders' appetite for beaten-down stocks grows. Japanese stocks led the way, with a cooling yen providing a boost to exporters. What's more, Japan's Prime Minister Shinzo Abe called for the Bank of Japan (BoJ) to take supportive measures as necessary. As such, the Nikkei ended with a 1.6% gain. 

In China, the Shanghai Composite picked up 0.7%, while Hong Kong's Hang Seng popped 1.3%. South Korea's Kospi also scored a win, adding 1%, after the government unveiled plans for a $17 billion stimulus package.

It's a similar backdrop in Europe, where stocks are surging at midday. Rising oil prices are adding to the risk-on appetite, while bank stocks also continue to rebound. Travel stocks, though, are struggling after a deadly airport bombing in Turkey.

Meanwhile, European Union (EU) members put pressure on British Prime Minister David Cameron to trigger Article 50, which would initiate the U.K.'s exit from the EU, though Cameron has refused to take immediate action. At last check, France's CAC 40 is up 2.3%, London's FTSE 100 is 2.1% higher, and Germany's DAX has added 1.5%. 

Overseas Trading June 29

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