Overseas Trading: Global Stocks Rise On Stimulus Hopes

Stocks in Asia and Europe are higher after Japan's Prime Minister Shinzo Abe promised a new fiscal stimulus agenda

Kirra Fedyszyn
Jul 12, 2016 at 8:46 AM
facebook twitter linkedin


Asian stocks posted strong gains today, just a session after U.S. benchmarks hit new highs. Following his big election victory, Prime Minister Shinzo Abe made headlines again by announcing plans for a "bold" fiscal stimulus, though he provided little detail on the matter. The yen weakened as a result, while Japan's Nikkei closed with a 2.5% win.

The stimulus hopes had other Asian stock markets higher, as well. By the numbers, China's Shanghai Composite added 1.8%, Hong Kong's Hang Seng climbed 1.7%, and South Korea's Kospi gained 0.1%.

Abe's comments, recovering oil prices, and a stronger pound are also lifting stocks in Europe. The gains come as Theresa May prepares to succeed David Cameron as the U.K prime minister, effective Wednesday. Meanwhile, traders are also eyeing possible interest-rate cuts from the Bank of England (BOE), which is set to meet on Thursday. Among the outperforming stocks was automaker Dailmer, thanks to strong quarterly results. London's FTSE 100 is just in the black at midday, up 0.1%, while France's CAC 40 and the German DAX have tacked on 1.5% each.

overseas stocks july 12

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!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 
Special Offers from Schaeffer's Trading Partners