Overseas Trading: Tokyo Stocks Rise as Yen Continues to Cool

The yen continued to weaken against the U.S. dollar ahead of tomorrow's nonfarm payrolls reportks' (ECB) September meeting

Oct 6, 2016 at 8:49 AM
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Asian markets finished the session higher as oil prices jumped, with Japan's Nikkei rising 0.5% on yet another day of the yen weakening against the U.S. dollar. South Korea's Kospi added 0.6%, despite casualties and flooding caused by Typhoon Chaba. Bolstering the index was a 4.5% jump for electronics stock Samsung, after the company received a letter from hedge fund Elliot Management calling for corporate changes, including a split of the company and a higher dividend. Hong Kong's Hang Seng tacked on 0.7%, and China's Shanghai Composite remained closed for holiday.

Stocks in Europe are lower at midday, as traders take a cautious approach of tomorrow's U.S. nonfarm payrolls report. Hawkish comments from Federal Reserve officials in recent days and solid economic data have strengthened the case for a December interest-rate hike. Traders are also parsing the release of minutes for the European Central Bank's (ECB) September meeting.

At last check, London's FTSE 100 is fractionally lower, as a more than 5% drop for airline firm EasyJet following the company's profit warning weighs against higher oil prices and gains in banks stocks. Elsewhere, the French CAC 40 is off 0.2%, while the German DAX has given back 0.1%, even after a report showed factory activity rose by a wider-than-expected margin in August.

overseas stocks october 6

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