Overseas Trading: Asia, Europe Follow U.S. Stocks Higher

Markets in Europe and Asia are higher as investors anticipate stimulus measures out of Japan and England

by Kirra Fedyszyn

Published on Jul 13, 2016 at 8:39 AM
Updated on Jun 24, 2020 at 10:16 AM

Markets in Asia ended modestly higher, extending stocks' recent rally, as traders continue to anticipate stimulus measures out of Japan. The country's chief cabinet secretary, Yoshihide Suga, denied claims that the Prime Minister Shinzo Abe and his aides are considering "helicopter money," but noted that Japan's government "is planning to introduce a comprehensive and bold economic stimulus." The Japanese Nikkei finished the session 0.8% higher.

Elsewhere in the region, hopes of monetary easing helped stocks shake off falling crude oil prices, after the International Energy Agency (IEA) expressed concerns about global oversupply ahead of this week's crude inventories report in the U.S. China's Shanghai Composite gained 0.4%, Hong Kong's Hang Seng climbed 0.5%, and South Korea's Kospi added 0.7% for the day.

Stocks in Europe are also higher at midday, following Wall Street's bullish lead, after major indexes in the U.S. tapped all-time highs on Tuesday. Investors are expecting the Bank of England (BOE) to cut interest rates this week, while the U.K. government will be officially turned over to the new prime minister, Theresa May, by the end of the day. London's FTSE 100 was last seen just above breakeven, while the German DAX is up 0.2%, and France's CAC 40 has climbed 0.5%.

overseas stocks july 13

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