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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative before substantial buying support for the banks came out of the left field and drove the market higher even before RBA came out with a rate cut. It was almost like some big investors knew there was a rate cut coming or were willing to take... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and went further negative on global investor selling before pulling back to slight negative on resource sector strength. Westpac lead the banking sector on the update season and it wasn’t pretty. The risk of falling currency and bad debt risk drove global investors to hammer the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and finished negative after pulling back to even on the back of banks. The market was a tale of two cities. Resources maintain the negative sentiment as commodity prices pullback and the Financials were showing strength with Banks and Property Trusts leading the way. Banks are... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and remained there as the global market and commodity sentiment turned negative. ECB held fire as they wait for Brexit issues to bite while we wait for US Fed next Thursday. We are going into a short week with fund managers back from school holidays. Aussie... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started strong and finished stronger on the back of commodity strength with banks joining the up run. We remain positive on the banks while we remain cautious on the recent leg of the commodity run. The trend is very similar to last year as the seasonality effect and... Show More

Tech Down Under | Beating the market is MITCH’n easy

Mathan Somasundaram

MITCH outperformance shows the disparity in the growth outlook of the new economy versus the old economy. Innovation plans by the major parties will deliver improved market sentiment but the cut back in science industry funding and capacity reduction in NBN will slow down the growth of new entrants to... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started strong and then pulled back before a late recovery to end a decent positive day. The market valuation looks stretched at 5200-5300 and the two main sectors (i.e. banks and miners) seem to run into a brick wall. The two key risks for the Aussie market in... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market had a strong day in line with global markets overnight. The two key risks for the Aussie market in the short term are US reporting season and Commodities. US reporting season so far remains slightly above expectations. But the expectations are for third negative quarter in a row.... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and finished negative after making a recovery to flat during the middle of the day. The two main negatives are US reporting season and Commodities. US reporting season risk remain a key negative as this is the third negative quarter according to expectations. Last two negative... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market flip-flopped between slight positive and slight negative before China growth data helped to push into solid positive territory. China GDP growth matched expectations and was right in the middle of the target band set by the government. If only everything worked so perfectly….like the local unemployment data improving... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and went further north due to Resources optimism driven by China data, Oil optimism driven by potential Doha deal and the Financial optimism driven by US result season. After three consecutive negative weeks, we expected a bounce this week in like with the trend from the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started slightly positive and then gave up the optimism as we saw in the US market on Friday. US reporting starts tonight with Alcoa while AWC trading showed today that the negative sentiment is strong. AUDUSD seems to be running out of puff with weak US reporting season... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and then fell hard before bouncing back to deliver a solid negative day in line with the US sentiment over the weekend. The negative performance today puts the local market into third consecutive negative weeks. Over the past 12mths, we have not had four consecutive negative... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive in line with US market before the reality of weaker commodities and slowing economy took it down to slight negative territory. As we have been saying for the past few weeks, all the macro, fundamental, technical and trend leading indicators were showing profit taking was coming... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market ran into a brick wall of profit taking from global investors ahead of similar profit taking in Europe and US tonight. As we have been saying for the past few weeks, all the macro, fundamental, technical and trend leading indicators were showing profit taking was coming. It was... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive on global sentiment and remained there as the end of month and quarter rolled over. Aussie market is trading on synch with US market after US Fed moved to water down rate rise cycle and deflate the USD. US corporates are not seeing better growth outlook... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive on US Fed dovish stance before giving it all up to finish flat as the reality of global growth risk sets into the markets. US Fed has once again cornered itself into inaction till inflation pushes them forwards. Insanity is doing the same thing year after... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market maintained the negative sentiment from last week to deliver another big negative day as banks were hammered. Globally it’s all about the US Fed and what tone Janet Yellen is going to take overnight. We expect to get FOMC chairwoman to become more hawkish than in March and... Show More

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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market had a very negative day with US rate hike risk, falling currency, falling commodities and bank bad debt worries. Falling commodities, falling currency and US rate hike were the initial negatives, but the bears were running amuck as ANZ and WBC unleashed bad debt worries. We have been... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and then moved further negative as China came online to finish in the red. The markets are seeing exhausted buyers and excited sellers. Aussie market has been trading sideways for more than two weeks and looks to be rolling over on low turnover. We have two... Show More