Overseas Trading: China Stocks Soar on Return From Golden Week

Global stocks are higher, following a modest recovery in crude oil prices, though Deutsche Bank concerns are still lingering in Europe

Kirra Fedyszyn
Oct 10, 2016 at 8:40 AM
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Markets in Asia closed higher amid a quiet session, with exchanges in Japan and Hong Kong shuttered for public holidays. Meanwhile, China stocks returned with a bang following the Golden Week Holiday. Specifically, the Shanghai Composite tacked on 1.5% -- its largest single-day percentage gain since Aug. 15 -- after the People's Bank of China (PBOC) set the value of the yuan at its lowest level in more than six years.

South Korea's Kospi finished roughly 0.2% higher, shaking off losses from electronics maker Samsung. The stock stumbled after the company hit the proverbial pause button on Galaxy Note 7 production, following reports replacement devices were still catching fire.

European stocks are also higher at midday, following a modest recovery in crude oil prices. Drilling down, mining stocks are getting a boost, thanks to gains in metal prices. At last check, London's FTSE 100 has added 0.3%, France's CAC 40 is up 0.6%, and Germany's DAX has climbed 0.8%, after financial stock Deutsche Bank dipped earlier on reports the company has yet to reach a settlement with the U.S. Justice Department.

overseas stocks october 10

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