Asian Stocks Rise After Brexit Shock Eases

Asian shares were mostly up Thursday as markets continued to gradually get over the shock set off by Britain’s vote last week to leave the European Union.

KEEPING SCORE: Japan’s benchmark Nikkei 225 edged up 0.1 percent to finish at 15575.92, while South Korea’s Kospi rose 0.8 percent to 1,972.80. Australia’s S&P/ASX 200 added 1.7 percent to 5,229.20. Hong Kong’s Hang Seng index rose 1.5 percent to 20,745.92. The Shanghai Composite was little changed, inching up nearly 0.1 percent to 2,933.24.

BREXIT: Post-“Brexit” worries are easing in recent sessions. Last week, Britain voted in a referendum to leave the European Union, sending stocks reeling. But Britain’s stock market has recouped its losses. The worries are shifting from short-term worries to long-term worries, analysts say.

THE QUOTE: “The Brexit is only four market-days old, and equities are right back where they’ve been all year — running sideways,” according to a report by the Group Strategic Marketing & Communications of DBS Bank in Hong Kong.

via Mainichi

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza