Equity Market Handover: Quiet Tone For Asia While Hong Kong Recovers

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

Stock market snapshot as of [17/6/2019 0555 GMT]

  • As we head into the European opening session, Asian stock markets have started the week on a quiet tone while traders brace for the most important event of this week; Fed FOMC meeting outcome on this Wed, 19 Jun. Latest data from CME Fed Watch tool based on market expectation calculations derived  from the fed funds futures contract has almost ruled out a rate cut for this coming Wed but the chances of a rate cut in the next FOMC meeting in July has increased to 80%. Thus, the press conference and the “dot plot” release after the FOMC meeting will be paramount as traders screen for further evidence of any “dovish guidance” from the Fed.
  • As at today’s Asian mid-session, the S&P 500 E-mini futures has inched higher by 0.4% from last Fri, 14 Jun U.S. session close to print a current intraday high of 2904 that has erased last Fri’s losses. The outlier for Asian stock market is the Hong Kong’s Hang Seng Index where it has rallied by 0.76% to recoup last week’s bloodshed. The Hong Kong administration has suspended the voting of the controversial China extradition bill due to massive public demonstrations. However, from a technical analysis perspective, the Index is still being trapped within a range configuration despite its current outperformance seen today. Click here to read our latest weekly technical outlook on stock indices.
  • European stock indices CFD futures are showing modest gains at this junctures where the FTSE 100 and the German DAX have inched up by 0.19% and 0.14% respectively.

Macroeconomic Calendar

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

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account