INSTAT A European Asia–Asia-Pacific Markets Daily Pulse Report, February 10, 2026
Daily Capital Flow & Momentum Analysis: Identifying Extended Leaders, Deep Laggards, and Contrarian Rotations Across EMEA and APAC Equities
Executive Summary
The overall market tone is moderately to strongly bullish, characterized by broad accumulation in cyclical, financial, and quality defensive sectors. However, significant dispersion exists beneath the surface, with pronounced rotation and selective profit-taking in specific areas.
Key Highlights:
Europe: Displays a constructive, risk-on bias at the index level, with strong short-term (1W) performance and high INSTAT readings (80-100) across major economies like France, Germany, Italy, and the UK. Leadership is concentrated in sectors such as utilities, industrials, chemicals, and defensives. Notable laggards, showing distribution and weak INSTAT, are concentrated in rate-sensitive financials (banks, insurers) and select technology/growth names.
Asia-Pacific: Exhibits a similarly positive but mixed risk tone. India, South Korea, Japan, and Australian resource/cyclical names show powerful bullish momentum. A stark divergence is evident in Greater China, where financials and energy stocks are strong leaders, while technology and platform companies are significant laggards under heavy selling pressure.
Market Dynamics: The prevailing pattern is one of continued buying into established one-month (1M) uptrends, with today’s mixed or negative one-day (1D) moves largely representing pauses within broader rallies. The report identifies numerous “extended leaders” for potential mean reversion and “deep laggards” that may signal contrarian opportunities or ongoing structural weakness.
Analysis of European In-Country Capital Flows
European flows skew constructively risk-on at the index and sector bellwether level, with most country slices showing positive mean 1W returns and supportive IN/INSTAT, even where today’s 1D tape is modest or slightly negative. France, Germany, Italy, Netherlands, Nordic, Switzerland, UK and Poland all carry clusters of INSTAT 80–100 names with positive 1W returns, signalling ongoing accumulation rather than a one‑day squeeze. The 1M backdrop is broadly positive or repairing, so today’s mixed 1D moves mostly represent pauses inside short‑term uptrends rather than fresh distribution.
Leadership on a 1D–1W basis is anchored in France (Engie, Vinci, CAC 40), Germany (BASF, Bayer, Henkel, E.ON, SAP, Siemens), Italy (Telecom Italia, Snam, Intesa, Eni, Terna, Prysmian, Davide Campari), Netherlands (ArcelorMittal, ASML, Shell, Unilever, ING), and the UK (GSK, Diageo, National Grid, Tesco, SSE, AstraZeneca, Rio Tinto, BHP London, multiple insurers), all with persistent positive 1W and elevated INSTAT. Switzerland adds high‑quality participation through Novartis, ABB, Lindt, Schindler and others, where 1W strength lines up with 1M uptrends and high IN/INSTAT, reinforcing a broad, quality‑tilted risk‑on tone.
Laggard behaviour is more idiosyncratic and concentrated in financials and select defensives where 1D/1W softness sits against otherwise solid 1M trends. Germany (Deutsche Börse, Deutsche Bank, Heidelberger Materials), the UK (NatWest, Lloyds, Barclays, Aviva, Admiral, Auto Trader, RELX, Sage), Poland (JSW, Dino Polska, CD Projekt, several banks with negative 1W), and select Nordic/Swiss names (Skandia Greenpower, UBS, Lonza) show Bearish/Repair profiles with weak 1D/1W and depressed INSTAT even when 1M remains constructive. That mix leaves Europe as “Moderately to Strongly Bullish” at the country level, but with active rotation and ongoing repair in rate‑sensitive financials and prior high‑beta winners.
European leaders and laggards (bulleted)
France – Accor, Bouygues, Vinci, Pernod Ricard, Air Liquide, Schneider, Engie, Hermes, Kering, Orange, CAC 40: Strongly Bullish short‑term, with aligned positive 1D/1W and INSTAT ~80–100, reflecting pro‑risk cyclical and quality leadership, extending positive 1M trends or repairing past drawdowns.
France – Capgemini, Stellantis, Publicis, LVMH, Teleperformance, Worldline: Bearish/Repair to Neutral, with negative or choppy 1W and deeply negative INSTAT (down to around −80), signalling ongoing distribution or fragile repair after prior 1M weakness.
Germany – BASF, Bayer, Henkel, E.ON, Commerzbank, Beiersdorf, RWE, SAP, Siemens, MTU Aero, Infineon: Strongly Bullish with strong 1W and INSTAT at or near 100, indicating broad pro‑cyclical leadership and follow‑through on a strong 1M tape.
Germany – Deutsche Börse, Deutsche Bank, Allianz, Heidelberg Materials, Rheinmetall, Siemens Healthineers, Nordex, Adidas: Clear laggards with negative 1W, weak AT/ST and INSTAT down towards −100 for some, a short‑term distribution phase despite decent 1M for several cyclicals.
Italy – Telecom Italia, Snam, Intesa Sanpaolo, Eni, Terna, Azimut, Enel‑style utilities and Davide Campari: Moderately to Strongly Bullish, with firm 1W and INSTAT ~80–100, a continuation of a positive 1M value/carry theme.
Italy – Fineco, Ferrari, Nexi, Moncler, Brunello Cucinelli, Recordati: Laggards or choppy repair, with negative 1W and mixed IN/INSTAT, often pullbacks inside longer‑term uptrends rather than full‑blown breakdowns.
Spain – Ferrovial, Iberdrola, Cellnex, Acciona, Aena, Repsol: Moderately Bullish, with solid 1W gains and INSTAT skewed positive, indicating targeted buying in infrastructure, utilities and energy.
Spain – Mapfre, CaixaBank, BBVA, Santander, Naturgy: Mixed to Bearish/Repair, as negative 1W in banks and insurers sits against still‑okay 1M/YTD, pointing to near‑term risk‑off within financials.
Netherlands – ArcelorMittal, Philips, ASML, Shell, Unilever, ING, Heineken, DSM Firmenich, Prosus: Leadership cluster with strong 1W and high INSTAT (often 80–100) in cyclicals, energy and quality defensives, extending a positive 1M momentum backdrop.
Netherlands – Prosus specifically carries a laggard tag (negative 1W, INSTAT around −80) despite the broader Dutch strength, highlighting idiosyncratic tech/China‑linked risk‑off.
Nordic – DNB, Kongsberg, Equinor, Sandvik, Boliden, Swedbank and select industrial/energy names: Generally Moderately Bullish, with positive 1W, solid IN, and INSTAT skewed high, consistent with ongoing 1M commodity and industrial support.
Nordic – SAAB, Skandia Greenpower, Skandinaviska Enskilda Banken, EQT: Laggards with negative 1W and deeply negative INSTAT, suggesting ongoing de‑risking despite earlier 1M gains in some cases.
Switzerland – Novartis, ABB, Lindt, Schindler, Givaudan, Richemont, Chocolat Lindt, China‑exposed quality names: Strongly Bullish profiles, with positive 1W and INSTAT 80–100, consistent with a continuation of the 1M quality bid.
Switzerland – UBS, Lonza, Deutsche‑style leveraged names: Bearish/Repair with negative 1W and INSTAT down to −100, suggesting persistent pressure after prior weakness.
UK – Tesco, SSE, Unilever, National Grid, Sainsbury, GSK, AstraZeneca, Diageo, Rio Tinto, BHP, insurers like Legal & General and QBE‑peers, plus select growth (Scottish Mortgage): Strongly Bullish cluster with strong 1W performance and high INSTAT, indicative of broad‑based accumulation in defensives, commodities and quality growth.
UK – NatWest, Lloyds, Barclays, Aviva, Admiral, Auto Trader, RELX, Sage, London Stock Exchange, Antofagasta: Clear laggards with negative 1W, depressed INSTAT (some around −80 to −90), short‑term distribution within an otherwise constructive 1M UK tape.
Poland – Tauron, PGE, Orange Polska, PKN Orlen, Santander Polska: Moderately Bullish with positive 1W and INSTAT 80–100, extending an ongoing 1M uptrend in energy and financials.
Poland – JSW, Dino Polska, CD Projekt, PZU, PKO, Alior and select tech/growth: Bearish/Repair, with negative 1W and INSTAT deeply negative, signalling continued risk‑off in higher‑beta and policy‑sensitive names.
Israel – Bank Hapoalim, Leumi, Azrieli, Nova, Enlight, Camtek, ICL, NICE: Overall Strongly Bullish slice with multiple INSTAT 90–100 names and strong 1W returns, a clear pro‑risk rotation despite idiosyncratic 1D volatility in growth/tech.
Israel – Magic, Formula, Elbit to a lesser extent: Mixed/Contrarian as 1W weakness or volatility combines with improving IN or positive 1M for a subset of tech and renewables.
European anomalies to tag
Extended leaders
France – Engie SA (ENGIE.PA): Strongly Bullish, short‑term extended – INSTAT ~100 with solid positive 1D/1W; current strength is an extension of a strong 1M utilities rally, so monitor for mean reversion.
France – Vinci SA (SGEF.PA) and CAC 40 (.FCHI): High INSTAT (80–100) with firm 1W; both look extended within an ongoing 1M uptrend in French blue‑chips.
Germany – BASF SE (BASFN), Bayer AG (BAYGN), Henkel (HNKG_p), E.ON (EONGn), SAP (SAPG), Siemens (SIEGn), Beiersdorf (BEIG): Cluster of INSTAT 100 names with strong 1W; classic pro‑cyclical extension in chemicals, industrials and utilities.
Italy – Telecom Italia (TLIT.MI), Snam (SRG.MI), Intesa (ISP.MI), Eni (ENI.MI), Terna (TRN.MI), Davide Campari (CPRI.MI): Multiple INSTAT 80–100 names with strong 1W in defensives/financials; short‑term stretched within positive 1M trends.
Netherlands – ArcelorMittal (MT.AS), ASML (ASML.AS), Shell (SHEL.AS), Unilever (UNAa.BS), ING (INGA.AS): High INSTAT, strong 1W, often double‑digit 1M gains; mark as extended cyclicals and mega‑cap growth.
Nordic – Kongsberg (KOG.OL), Sandvik (SAND.ST), Boliden (BOL.ST), DNB (DNB.OL): INSTAT 80–100 with powerful 1W and strong 1M commodity/industrial trends; monitor for exhaustion.
Switzerland – Novartis (NOVN.S), ABB (ABBN.S), Lindt (LISN.S), Schindler (SCHN.S), Richemont (CFR.S), Chocolat Lindt & Sprüngli: High INSTAT with persistent positive 1W and supportive 1M; quality leaders potentially over‑owned short‑term.
UK – Tesco (TSCO.L), SSE (SSE.L), National Grid (NG.L), Sainsbury (SBRY.L), GSK (GSK.L), AstraZeneca (AZN.L), Diageo (DGE.L), Rio Tinto (RIO.L), BHP (BHPB.L), Legal & General (LGEN.L): Multiple INSTAT near 100 with strong 1W; extended leadership in defensives, miners and income plays.
Poland – Tauron (TPE.WA), PGE (PGE.WA), Orange Polska (OPL.WA), Santander Polska (SPL1.WA): High INSTAT and strong 1W, extending a robust 1M rally in energy and banks.
Israel – Bank Hapoalim (POLI.TA), Leumi (LUMI.TA), Azrieli (AZRG.TA), Nova (NVMI.TA), Enlight (ENLT.TA), Camtek (CAMT.TA): INSTAT 90–100 with strong 1W; the slice is short‑term overextended in banks, REITs and semis.
Deep laggards
France – Capgemini (CAPP.PA), Stellantis (STLAM.PA), Publicis (PUBP.PA), Teleperformance (TEPRF.PA), Worldline (WLN.PA): INSTAT down to −80/−76 with negative 1W and weak 1M, signalling ongoing distribution in tech/IT‑services and autos.
Germany – Deutsche Börse (DB1Gn), Deutsche Bank (DBKGn), Rheinmetall (RHMG), Siemens Healthineers (SHLG.DE), Allianz (ALVG), Nordex (NDXG), Adidas (ADSGN): Negative 1W, INSTAT −60 to −100; a clear short‑term stress pocket in financials, defense and green energy.
Italy – FinecoBank (FBK.MI), Ferrari (RACE.MI), Nexi (NEXII.MI), Moncler (MONC.MI), Brunello Cucinelli (BCU.MI), Recordati (RECI.MI): Negative 1W and depressed INSTAT, many after prior 1M underperformance in luxury and growth.
Spain – Mapfre (MAP), CaixaBank (CABK), BBVA (BBVA): Negative 1W, INSTAT as low as −62; ongoing de‑risking in Spanish financials despite resilient 1M index‑level moves.
Netherlands – Prosus (PRX.AS): INSTAT around −82 with negative 1W and weak 1M, reflecting China/tech‑linked selling pressure.
Nordic – SAAB (SAABb.ST), Skandia Greenpower (SKAND.OL), Skandinaviska Enskilda Banken (SEBa.ST), EQT (EQTAB.ST): 1W losses and INSTAT in the −80 area, after strong 1Y runs in some; short‑term stress in defense, renewables and private equity.
Switzerland – UBS (UBSG.S), Lonza (LONN.S), Deutsche‑linked cyclicals: Negative 1W and INSTAT as low as −100, persistent pressure after earlier underperformance.
UK – NatWest (NWG.L), Lloyds (LLOY.L), Barclays (BARC.L), Aviva (AV.L), Admiral (ADML.L), Auto Trader (AUTOA.L), RELX (REL.L), Sage (SGE.L), London Stock Exchange (LSEG.L), Antofagasta (ANTO.L): Negative 1W, INSTAT in the −60 to −90 range, marking pronounced risk‑off in banks, platforms and select growth.
Poland – JSW (JSW.WA), Dino Polska (DNP.WA), CD Projekt (CDR.WA), PZU (PZU.WA), PKO (PKO.WA): Negative 1W, very weak INSTAT, short‑term distribution in cyclicals, growth and financials.
Potential contrarian ideas
France – Thales (TCFP.PA), Dassault Aviation (AM.PA): Soft or negative 1D/1W, but still positive IN and mid‑range INSTAT; pullback within an otherwise positive 1M defense trend.
Germany – Hapag‑Lloyd (HLAG.DE), Mercedes‑Benz (MBGn), Bayerische Motoren Werke (BMWG): Choppy 1W or mild weakness versus positive IN/INSTAT and constructive 1M autos/transport backdrop.
Italy – Ferrari (RACE.MI) and Moncler (MONC.MI): Recent 1W strength after prior 1M drawdowns; early repair in luxury where IN peels off lows.
Spain – Repsol (REP) and Naturgy (NTGY): Mixed 1D/1W but positive IN and supportive 1M energy trends; short‑term pullbacks may be buyable within uptrends.
Netherlands – Adyen (ADYEN.AS): Positive 1D/1W with still negative INSTAT and weak 1M; early repair in a beaten‑up growth name.
Nordic – Alfa Laval (ALFA.ST) and Epiroc (EPIRa.ST): Modest 1D/1W within strong 1M and positive IN; digestion phases in high‑quality industrials.
Switzerland – Givaudan (GIVN.S) and Nestlé (NESN.S): Positive 1W versus still‑mixed INSTAT and soft 1M; defensive staples rotating back into favour.
UK – British American Tobacco (BATS.L), Imperial Brands (IMB.L): Negative 1W but positive IN and moderately positive 1M; classic contrarian yield plays.
Poland – PGE (PGE.WA) and Bank Pekao (PEO.WA): Modest 1D volatility, positive 1M and constructive INSTAT; pauses within broader uptrends.
Israel – NICE (NICE.TA), ICL (ICL.TA), Formula (FORTY.TA): Short‑term weakness or volatility against improving IN/INSTAT and positive 1M/YTD; potential contrarian tech/value entries.
Analysis of Asian In-Country Capital Flows
Asian and Asia‑Pacific slices present a generally Moderately Bullish risk tone, with broad positive 1W returns and high INSTAT pockets in India, Hong Kong/China financials and energy, South Korea, Japan, Tiger Cubs and Australia. The pattern is one of continued buying into already positive 1M trends in cyclicals, exporters and financials, while select tech and growth names show sharp 1W drawdowns and deeply negative INSTAT, creating clear dispersion within each country.
India (US trading) is a standout leader, with financials, energy and infrastructure names (SBI, ONGC, Coal India, NTPC, Power Grid, Tata Steel, Larsen & Toubro, UltraTech, Grasim) showing strong 1W gains and INSTAT often in the 90–100 range, extending powerful 1M moves. Singapore is more balanced: REITs and telcos (CapitaLand Integrated, ST Engineering, Singtel, UOB, Wilmar, Singapore Airlines, SGX) screen as leaders, while Mapletree Industrial and some banks are in mild repair. Hong Kong and onshore China show a clear split between very strong financials, insurers and energy (China Construction Bank, Bank of China, China Life, China Shenhua, PetroChina, Ping An, AIA to a lesser degree) and weak tech/platform names (Tencent, Meituan, JD.com, NetEase, Trip.com, China Telecom) with negative 1W and deeply negative INSTAT.
Taiwan’s slice is anchored by TSMC, MediaTek and Accton with robust 1D/1W gains and positive INSTAT, signalling ongoing participation in the global semiconductor upcycle. South Korea is strongly risk‑on at the financials, autos and shipbuilding level (Shinhan, KB, Hana, Woori, Industrial Bank of Korea, Hyundai, Kia, POSCO, Samsung Electronics, SK Hynix), all with powerful 1W moves and INSTAT near 90–100, extending a very strong 1M tape. Japan shows a broad leadership pack across trading houses, insurers, machinery and transport (Mitsubishi Corp, Mitsui, Marubeni, Mitsubishi Heavy, Mitsubishi Electric, Hoya, Fast Retailing, Advantest, Tokyo Electron, financials, Japan Post Bank), with 1W strength sitting atop strong 1M trends. Tiger Cubs (Philippines, Vietnam, Thailand, Malaysia, Indonesia) show mixed but tilting‑positive flows, with banks and infrastructure (BDO, BPI, ICTSI, Vingroup, VCB, Public Bank, CIMB, Mandiri) leaning bullish despite notable idiosyncratic laggards in Indonesia and Vietnam. Australia is broadly constructive, with miners, banks and selected defensives leading (Rio Tinto, BHP, Wesfarmers, Woolworths, NAB, Macquarie), while high‑multiple growth (CSL, Xero, Technology One, JB Hi‑Fi) is under pressure.
Asian leaders and laggards (bulleted)
India – SBI, ONGC, Coal India, NTPC, Power Grid, Indian Oil, Tata Steel, Larsen & Toubro, UltraTech Cement, Grasim, HDFC‑adjacent peers like ICICI, Nestlé India: Clear leaders with strong 1W, positive 1D and INSTAT mostly in the 90–100 range, extending powerful 1M uptrends in banks, energy and industrials.
India – Infosys, TCS, HCL Tech, ITC, HDFC Bank, Jyoti CNC, Navin Fluorine: Laggards with negative 1W and deeply negative INSTAT (down to −100), flagging ongoing distribution in IT and select financials/growth after prior strength.
Singapore – CapitaLand Integrated, ST Engineering, Singtel, SGX, UOB, Wilmar, Singapore Airlines: Leaders with positive 1W and high INSTAT; risk‑on rotation into REITs, telco and yield.
Singapore – Mapletree Industrial Trust, DBS, OCBC: Bearish/Repair profiles with weak 1W against a still‑constructive 1M financials backdrop.
Hong Kong – HSBC, China Construction Bank (HK), Bank of China (HK), China Shenhua (HK), PetroChina (HK), China Life (HK), Ping An, AIA (mixed but improving), CSPC Pharma, China Resources Land: Strong leaders with positive 1W and INSTAT around 90–100; risk‑on skewed to banks, insurance and energy.
Hong Kong – Tencent, Meituan, JD.com, Trip.com, NetEase, Sunny Optical, China Telecom (HK), China Mobile (HK): Clear laggards with negative 1W and INSTAT deeply negative (−90 to −100 in some), ongoing distribution in China tech/platforms and telcos despite selective 1M resilience.
China onshore – China Construction Bank A (601939), Bank of China A (601988), China Life A (601628), China Shenhua A (601088), PetroChina A (601857), China Pacific Insurance, Agricultural Bank (to a lesser extent): Leaders with strong 1W and high INSTAT; follow‑through risk‑on in financials and energy.
China onshore – China Communications Construction, China Telecom A (601728), Industrial Bank, Foshan Haitian, multiple SOEs: Deep laggards with negative 1W and INSTAT near −100, ongoing structural de‑rating despite occasional 1D bounces.
Taiwan – TSMC (2330.TW), MediaTek (2454.TW), Accton (2345.TW), Delta Electronics (2308.TW), Cathay Financial, Fubon Financial, CTBC Financial: Leaders with strong 1D/1W and high INSTAT, extending 1M semiconductor and financial strength.
Taiwan – Telecom and some financials like Chunghwa, E.SUN: Neutral/Mixed, modest 1W inside broader constructive 1M trends.
South Korea – Shinhan, KB, Hana, Woori, Industrial Bank of Korea, Samsung Life, POSCO, Hyundai Motor, Kia, Samsung Electronics, SK Hynix, Samsung C&T: Strongly Bullish cluster with large 1W gains and INSTAT 90–100; pro‑risk cyclical and financial leadership extending powerful 1M momentum.
South Korea – Hanwha Ocean, HD Korea Shipbuilding, Hyundai Heavy Industries, Naver, LG Energy Solution, Hanwha Aerospace: Laggards with negative 1W and weak INSTAT, short‑term stress in shipbuilding, heavy industry and selected growth/tech despite positive 1M in some names.
Japan – Mitsubishi Corp, Mitsui, Marubeni, Mitsubishi Heavy, Mitsubishi Electric, Komatsu, Hoya, Advantest, Tokyo Electron, Fast Retailing, Sompo, MS&AD, Japan Post Bank, Bridgestone, Mitsubishi Estate‑style names: Leaders with strong 1W and high INSTAT, continuing strong 1M uptrends in trading houses, machinery, semis and insurers.
Japan – NTT, SoftBank Corp, Oriental Land, Fujitsu, selective defensives: Mixed to lagging, with weaker 1W and softer INSTAT despite reasonable 1M performance.
Tiger Cubs – Philippines: ICTSI, BDO, BPI, Meralco, Metrobank: Generally Moderately Bullish with positive 1W and high INSTAT; ongoing accumulation in banks and infrastructure.
Vietnam – Vingroup (VIC), Vietcombank (VCB): Strong short‑term momentum in VIC but with a still‑negative 1M backdrop, versus VCB in short‑term stress (negative 1W, weak INSTAT) despite a better medium‑term story.
ASEAN – Public Bank, CIMB, Petronas Chemicals, Tenaga: Mixed; Malaysian banks lean bullish while Petronas Chemicals remains in Bearish/Repair after a weak 1M tape.
Australia – Rio Tinto, BHP, Wesfarmers, Woolworths, NAB, Macquarie, Goodman, Qantas, Woodside: Clear leaders with strong 1W and high INSTAT, consistent with cyclical and quality‑defensive strength amid a constructive 1M backdrop.
Australia – CSL, Xero, Technology One, JB Hi‑Fi, Rea Group, Transurban, Lottery Corp, Origin: Laggards with negative 1W and deeply negative INSTAT, signalling persistent de‑rating in high‑multiple growth and some defensives despite decent 1M in select names.
Asian anomalies to tag
Extended leaders
India – State Bank of India (SBI.NS), ONGC (ONGC.NS), Coal India (COAL.NS), NTPC (NTPC.NS), Tata Steel (TISC.NS), Larsen & Toubro (LART.NS), UltraTech Cement (ULTC.NS), Grasim (GRAS.NS), Indian Oil (IOC.NS), Power Grid (PGRD.NS): Strongly Bullish, short‑term extended – INSTAT ~90–100 with strong 1D/1W moves atop powerful 1M rallies; monitor for near‑term mean reversion.
Singapore – ST Engineering (STEG.SI), UOB (UOBH.SI), Wilmar (WLIL.SI), Singapore Airlines (SIAL.SI), SGX (SGXL.SI), CapitaLand Integrated (CMLT.SI): High INSTAT and solid 1W; extended yield/infra leadership.
Hong Kong – HSBC (0005.HK), China Construction Bank (0939.HK), Bank of China (3988.HK), China Shenhua (1088.HK), PetroChina (0857.HK), China Life (2628.HK), CSPC Pharma (1093.HK), China Resources Land (1109.HK): Strong 1D/1W with INSTAT 90–100; extended pro‑risk positioning in banks, energy and insurers.
China onshore – China Construction Bank A (601939.SS), Bank of China A (601988.SS), China Life A (601628.SS), China Shenhua A (601088.SS), PetroChina A (601857.SS), China Pacific Insurance (601601.SS): Strongly Bullish, short‑term extended with positive 1W and high INSTAT, continuing a strong 1M financials/energy tape.
Taiwan – TSMC (2330.TW), MediaTek (2454.TW), Accton (2345.TW), Delta Electronics (2308.TW): High INSTAT and strong 1D/1W within powerful 1M semiconductor rallies; monitor for exhaustion risk.
South Korea – Shinhan (055550.KS), KB Financial (105560.KS), Hana (086790.KS), Woori (316140.KS), Industrial Bank of Korea (024110.KS), Samsung Life (032830.KS), POSCO (005490.KS), Samsung Electronics (005930.KS), SK Hynix (000660.KS), Samsung C&T (028260.KS), Hyundai Mobis (012330.KS), HMM (011200.KS): Very strong 1W with INSTAT near 90–100 and powerful 1M trends; extended pro‑cyclical and financial leadership.
Japan – Mitsubishi Corp (8058.T), Mitsui (8031.T), Marubeni (8002.T), Mitsubishi Heavy (7011.T), Mitsubishi Electric (6503.T), Hoya (7741.T), Fast Retailing (9983.T), Advantest (6857.T), Tokyo Electron (8035.T), Sompo (8630.T), MS&AD (8725.T), Japan Post Bank (7182.T): Strongly Bullish, short‑term extended – INSTAT ~100 with strong 1D/1W atop robust 1M uptrends.
Tiger Cubs – ICTSI (ICT.PS), BDO (BDO.PS), Meralco (MER.PS), Metrobank (MBT.PS), Vingroup (VIC.HM), Mandiri (BMRI.JK), Public Bank (PUBM.KL), CIMB (CIMB.KL): Strong 1W, high INSTAT and positive 1M; extended leadership in ASEAN banks and infra.
Australia – Rio Tinto (RIO.AX), BHP (BHP.AX), Wesfarmers (WES.AX), Woolworths (WOW.AX), NAB (NAB.AX), Macquarie (MQG.AX), Goodman (GMG.AX), Woodside (WDS.AX), Qantas (QAN.AX): High INSTAT with strong 1W and supportive 1M; extended trend in miners, banks, defensives and transport.
Deep laggards
India – Infosys (INFY.NS), TCS (TCS.NS), HCL Tech (HCLT.NS), ITC (ITC.NS), HDFC Bank (HDBK.NS), Jyoti CNC (JYCA.NS), Navin Fluorine (NAFL.NS): INSTAT down to −100 with negative 1W and weak 1M, indicating ongoing short‑term distribution in IT and selected financials/growth.
Singapore – Mapletree Industrial Trust (MAPI.SI): Negative 1W and depressed INSTAT, underperforming a positive 1M REIT backdrop.
Hong Kong – Tencent (0700.HK), Meituan (3690.HK), JD.com (9618.HK), Trip.com (9961.HK), NetEase (9999.HK), Sunny Optical (2382.HK), China Telecom (0728.HK), China Mobile (0941.HK): Negative 1W and very weak INSTAT (often −90 to −100), flagging deep short‑term stress in China tech/platforms and telcos.
China onshore – China Communications Construction (601800.SS), China Telecom A (601728.SS), Industrial Bank (601166.SS), Foshan Haitian (603288.SS), multiple SOEs: Negative 1W, INSTAT near −100, continuing a structurally weak 1M tape.
South Korea – Hanwha Ocean (042660.KS), HD Korea Shipbuilding (009540.KS), Hyundai Heavy (329180.KS), Naver (035420.KS), LG Energy Solution (373220.KS), Hanwha Aerospace (012450.KS): Negative 1W and depressed INSTAT despite some positive 1M; concentrated pressure in shipbuilding, heavy industry and internet names.
Japan – NTT (9432.T), SoftBank Corp (9434.T), Oriental Land (4661.T): Negative or weak 1W with depressed INSTAT, marking underperformance in telecoms and consumer services despite stronger index‑level moves.
Tiger Cubs – Bayan Resources (BYAN.JK), Bank Maybank Indonesia ADR (PBCRY.PK), Barito Renewables (BREN.JK), Vietcombank (VCB.HM): Negative 1W and very low INSTAT, ongoing distribution in Indonesian energy/renewables and Vietnamese banking.
Australia – CSL (CSL.AX), Xero (XRO.AX), Technology One (TNE.AX), JB Hi‑Fi (JBH.AX), Rea Group (REA.AX), Transurban (TCL.AX), Lottery Corp (TLC.AX), Origin (ORG.AX): Negative 1W, INSTAT often −80 or worse, continued de‑rating in growth and some defensive yield names.
Potential contrarian ideas
India – ITC (ITC.NS), HDFC Bank (HDBK.NS), Infosys (INFY.NS), TCS (TCS.NS), HCL Tech (HCLT.NS): Deep 1W/1M drawdowns and very negative INSTAT, but structural franchises with scope for mean‑reversion; monitor for stabilisation in IN.
Singapore – DBS (DBSM.SI), OCBC (OCBC.SI): Negative or soft 1W but positive IN and healthy 1M trends; short‑term selling against improving positioning in banks.
Hong Kong – Alibaba (9988.HK), JD.com (9618.HK): Mixed 1W with improving IN and still‑reasonable 1M; early repair in beaten‑up China platforms.
China onshore – Ping An (601318.SS), Kweichow Moutai (600519.SS), China Pacific Insurance (601601.SS): Modest 1W gains and positive IN/INSTAT against prior 1M weakness; potential contrarian entries in financials and premium consumer.
Taiwan – Telecom and financials such as Chunghwa (2412.TW), Fubon (2881.TW), E.SUN (2884.TW): Lagging semis but with steady 1M and neutral‑to‑positive IN; yield plays that may benefit if risk appetite broadens.
South Korea – Naver (035420.KS), LG Energy Solution (373220.KS), Hanwha Aerospace (012450.KS): Negative 1W and weak INSTAT, but supported by positive 1M in broader Korea growth; watch for breadth improvement ahead of price.
Japan – NTT (9432.T), SoftBank Corp (9434.T), Fujitsu (6702.T), Oriental Land (4661.T): Underperforming 1W within a strong 1M Japan tape; defensives and growth that may catch a secondary rotation if the rally broadens.
Tiger Cubs – Vietcombank (VCB.HM), Public Bank (PUBM.KL), CIMB (CIMB.KL): Short‑term selling or consolidation versus favourable 1M and positive IN; contrarian bank exposure in Vietnam/Malaysia.
Australia – CSL (CSL.AX), Xero (XRO.AX), Technology One (TNE.AX), Rea Group (REA.AX): 1W weakness and negative INSTAT following extended 1M/1Y reratings; high‑beta growth where stabilising IN could flag future repair.