Overseas Trading: Higher Oil, Weaker U.S. Dollar Boost Global Stocks

Soft manufacturing data from the U.S. has weakened the dollar -- and lifted benchmarks in Asia and Europe

by Kirra Fedyszyn

Published on Oct 18, 2016 at 8:49 AM
Updated on Oct 18, 2016 at 8:50 AM

Asian markets ended the day in positive territory, with a rise in crude oil futures giving stocks a boost. The U.S. dollar also weakened against a basket of foreign currencies, following Monday's soft manufacturing data and relatively hawkish comments from Federal Reserve Vice Chair Stanley Fischer.

Japan's Nikkei added 0.4%, even as the yen edged up. China's Shanghai Composite tacked on 1.4%, after data showed banks increased lending -- particularly to home buyers -- in September. Hong Kong's Hang Seng climbed 1.6% as casino stocks rebounded from Monday's losses, and South Korea's Kospi rose 0.6%.

In Europe, stocks are reacting to inflation data from the U.K., which showed consumer prices jumped by a better-than-expected rate of 1% in September -- its highest level since November 2014. A weaker U.S. dollar is also helping stoke a rally in energy and mining stocks -- and giving an assist to regional benchmarks. Despite a large drop for luxury goods stock Burberry, London's FTSE 100 was last seen up 1.2%. France's CAC 40 has added 1.4% and Germany's DAX is up 1.2%. 

overseas stocks october 18

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