Equity Brief: Asian Stocks In Consolidation Mode Within Uptrending Phase

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

Stock market snapshot as of [02/07/2019 0420 GMT]


  • Ahead of the European opening session, Asian stock markets are trading in a mix fashion as at today’s Asian mid-session. Hong Kong’s Hang Seng Index stellar performance with a current rally of 1.35% is an exception because it is just playing the “post G20 catch-up” due a public holiday closure yesterday, 01 Jul.
  • Australia’s ASX 200 is the outperformer so far that is showing a gain of 0.41% with another interest rate cut just announced by RBA that brought the policy cash rate to a historical low of 1%, click here for out latest analysis on ASX 200. In contrast, Korea’s Kospi 200 has continued to see profit taking activities for the second consecutive day since 01 Jul due to concerns over Japan’s exports restrictions against South Korea.
  • Japan’s Industry Minister said that the export curbs are the consequences of South Korea’s failure to present satisfactory measures to resolve forced labour issues and the curbs are not in violation of WTO rules.
  • The S&P E-mini futures has continued to inch higher in today’s Asian mid-session from yesterday, 01 Jul U.S. session low of 2955. Its current price level at 2970 has surpassed yesterday’s cash index closing level of 2964. Overall, the medium-term uptrend for stock indices remains intact despite mix performances seen in the Asian stock indices, click here for a recap.
  • European stock indices CFD futures are showing modest gains at this juncture. Both the FTSE 100 and German DAX are up by 0.39% and 0.25% respectively.

Macroeconomic Calendar


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





Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.