Asian Equity Market Handover: Risk On Party Continues

A summary of the stock market trends & highlights from today's Asian mid-session.

Stock market snapshot as of [10/6/2019 0630 GMT]

  • Asian stock markets have continued to see a positive follow through at the start of a new week due to the cancellation of U.S. President Trump’s earlier proposed Mexican tariffs after a deal have been reached between U.S. and Mexico.
  • In addition, a dismal U.S. employment NFP payrolls data for May that was reported on last Fri, 10 Jun which came in far below expectations (an increase of 75K versus 185K consensus) that increased the probability of a Fed rate cut in the July FOMC meeting.
  • A dovish Fed and a “pause” in global trade tensions have led the export dependant and interest rate sensitive (due to its fixed peg exchange rate system with the USD) Hang Seng Index to be the best performer as at today’s Asian mid-session with a gain of 2.18%.
  • From a medium-term (1 to 3 weeks) term perspective, we are still expecting further potential upside for most major stock indices after some minor pull-back (click here for the latest weekly technical outlook report).
  • FTSE 100 and German DAX CFD indices futures are showing modest gains at 0.30% and 0.42% respectively.

Macroeconomic Calendar

   *Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

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