Asian Stocks Decline as Selloff in China …Hong Kong Index slip | Motilal Oswal Research

Asian Stocks Decline as Selloff in China …Hong Kong Index slips nearly 1000 pts…US Dow and European Future declines nearly half percent each

·   Asian equities slid as Chinese stocks slumped after Beijing unveiled a sweeping overhaul of the education tech sector, banning firms that teach the school curriculum from making profits, raising capital or going public. Both China and Hong Kong Index declined over 3% each. Taiwan and South Korea Index fell 1% each. Both US Dow Future and European Future slipped nearly half percent each. Weak global market may have negative impact in our markets. However, domestic factors are positive on account of strong quarterly results and improved macro economy data. Traders apply caution in the market.

·   Important events may impact in the market – US Fed two days policy meeting will be commence from tomorrow and US Fed interest rate decision to announce on Wednesday.

·   India – July series F&O expiry will be held Thursday.