Overseas Trading: Global Stocks Climb as Yen, Pound Slide

Deutsche Bank and "Brexit" chatter remain at the forefront, with stocks in Asia and Europe in the green

Oct 4, 2016 at 8:45 AM
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Global stocks are rallying for a second straight day, even as crude oil prices stumble. In Asia, Japan's Nikkei led the way, adding 0.8% as the yen cooled after the U.S. Institute for Supply Management's (ISM) manufacturing index popped back into expansion territory. A weaker yen serves as a boost for major exporters.

Elsewhere in the region, Hong Kong's Hang climbed 0.5%, lifted by China Evergrande Group -- which rallied more than 8% after the company said it will spin off the majority of its property assets to be traded on the Shenzhen stock exchange. Meanwhile, South Korea's Kospi tacked on 0.6%, while markets in mainland China remained shuttered for holiday.

European stocks are also higher at midday, with Germany-based Deutsche Bank opening the session higher on Monday's settlement considerations. "Brexit" anticipation remains in focus, too, after recent comments from U.K. Prime Minister Theresa May, with the pound falling to its lowest level against the U.S. dollar since 1985. At last check, London's FTSE 100 has advanced 1.8% -- within striking distance of a record high -- France's CAC 40 is up 1%, and Germany's DAX is 0.7% higher.

overseas stocks october 4

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