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

Oct 10, 2016 at 8:40 AM
facebook twitter linkedin


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

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. 
 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners