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
facebook twitter linkedin


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

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. 
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

SCHAEFFER'S JULY STOCKS REPORT AD
 


 


 
Special Offers from Schaeffer's Trading Partners