- JP225 rallied from around 67,700 to 69,700 points between 2 PM GMT and 8:45 AM GMT, extending its strong rebound.
- A recovery in South Korean equities helped lift broader Asian markets and provided additional support for Japan's technology sector.
- Despite the rebound in Japanese equities, SoftBank ADRs (SFT.DE) are trading lower today and have now fallen nearly 30% from their recent highs.
- JP225 rallied from around 67,700 to 69,700 points between 2 PM GMT and 8:45 AM GMT, extending its strong rebound.
- A recovery in South Korean equities helped lift broader Asian markets and provided additional support for Japan's technology sector.
- Despite the rebound in Japanese equities, SoftBank ADRs (SFT.DE) are trading lower today and have now fallen nearly 30% from their recent highs.
The Japan 225 futures contract gained more than 2% today, with the continued weakness of the Japanese yen providing an additional tailwind for the country's leading exporters by improving the earnings outlook for overseas sales. Japan's Nikkei 225 rose 1.5%, recovering part of its recent losses, with real estate, banking, and semiconductor materials companies leading the advance.
- Rohm (+14%), SUMCO (+11%), and Kioxia (+9%) were among the strongest performers, suggesting investors are returning to selected semiconductor supply chain stocks after the recent sharp correction.
- Market breadth remained exceptionally strong, with advancing stocks outnumbering decliners by more than three to one on the Tokyo Stock Exchange, indicating broad-based buying rather than gains driven by only a handful of large-cap names.
- The recent 27% decline in the Nikkei Volatility Index to its lowest level in three months points to improving risk appetite and easing concerns about near-term market volatility.
- The broader macro backdrop remains moderately supportive for Japanese equities. Brent crude has recovered above $72 per barrel, the Japanese yen remains weak, and gold has gained 1.5%, reflecting a market environment where demand for defensive assets persists despite improving equity sentiment.
JP225 (H1)
The JP225 futures contract continues to trade below both the 50-period and 200-period Exponential Moving Averages (EMAs), indicating that bulls still need to prove they can regain control of the trend. The key resistance is currently located around 7,000 points, and a sustained breakout above this level could open the door to a move toward 7,200 points, where previous price reactions have formed an important resistance zone.
Source: xStation 5
SoftBank (D1)
Japanese technology giant SoftBank (SFT.DE) has declined by more than 30% from its early June record highs. If the current decline stabilizes around these levels, it could resemble the 1:1 corrective pattern seen in the autumn of 2025. Key support is located near 28, where the 200-day EMA is positioned, while the main resistance lies around 35, where the 50-day EMA coincides with a significant price gap.
Source: xStation 5
Economic Calendar: What are markets focusing on after NFP? (03.07.2026)
Morning Wrap: Asia in the green – is optimism returning to the markets? (03.07.2026)
Daily summary: Gold surges 2%, Nasdaq drags down sentiments on Wall Street
US100 falls almost 2% 🚩 Semiconductor stocks plunge as SanDisk tumbles 13%
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
