Overseas Trading: Yen Talk Boosts Japan, Asian Stocks

Comments on the yen from Japan's finance minister sent stocks in Asia higher

Josh Selway

May 10, 2016 at 8:40 AM

Stocks in Asia closed higher, led by a rally in Japan. Specifically, the Tokyo-based Nikkei jumped 2.2%, after Japan's finance minister, Taro Aso, suggested the government would intervene if the yen strengthened against the dollar.

Gains were less impressive in China -- with the Shanghai Composite adding just 0.04% -- after inflation data for April came in below expectations and producer prices fell less than forecast. Meanwhile, Hong Kong's Hang Seng picked up 0.4%, and South Korea's Kospi added 0.8%.

Stocks in Europe are taking cues from a bounce in crude oil prices, the latest round of corporate earnings, and gains in Asia, trading higher at midday. Mining stocks recovered on higher metal prices, leading all sectors. Meanwhile, banking giant Credit Suisse is rallying thanks to better-than-expected first-quarter numbers. Germany's DAX was last seen 0.5% higher, France's CAC 40 was up 0.3%, and London's FTSE 100 has added 0.2% thus far.

Overseas Markets May 10

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