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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market ran up for the first half of the day on better risk appetite and stronger currency before spending the second half trading sideways. The data continues to support US Fed rate hike while US Fed commentary remains mixed between slightly hawkish to slight dovish. The US reporting season had... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market closed slightly positive on a volatile choppy day. We have a few Fed speeches to come tomorrow while the last one calmed the market on rate rise speed. FOMC minutes to come out tomorrow night while US reporting season also kicks off tonight with Alcoa. US market likely to... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market started negative before staging a big recovery to positive territory was deflated by the RBA non-action in the afternoon. RBA was never going to cut rates today and the market is back looking at quality value yields. The local market is now eyeing 3rd straight positive week and we... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started with a bang and then gave it all up before finishing at the highs of the day. The main drivers were banks and miners after solid global lead and strong commodities. The market has moved from Brexit worry to stimulus party. We turned bullish on Tuesday 28th... Show More

Australian Travel & Tourism Sector: starting to really motor on due to lower A$ & Chinese tourists- AAD, AHD, MTR, VRL, SLK

James Nicolaou

ABS data for the 12 months to end September 2015 shows total inbound visitations of 7.23m (+7% pcp). Passenger arrivals from overseas have risen and departures from Australia have fallen, continuing a two-year improving trend in travel flows dominated by China. The number of short-term travellers arriving in Australian September... Show More

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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive on yield chase before getting smacked down by substantial global investor selling pressure after very poor GDP data yesterday and weak retail data today. The global investor reaction was logical as currency is expected to fall substantially post weak retail data and very weak GDP growth... Show More

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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market recovered from early losses after the weak economic growth rate drove rate cut outlook. The global risk at the moment is multi facet with China and US leading the pain factor. Why are we positive (1) market back to long term fair value multiple support level it has... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started flat and trended down before getting hit by domestic growth scare with current account deficit blowing out and global growth scare with China PMI falling again. China continues to support their equity market while putting restriction on speculation trading on Yuan. The market remains spooked with Chinese... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market broke the four day positive trend to deliver a negative day to finish the worst month since GFC. There are media articles saying that Chinese government has put together 100b Yuan to buy back shares on the market while arresting Citic employees on rumourtrage. This moves once again... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market delivered fourth straight positive day on the back of global optimism that China is taking the right steps forwards. We turned cautiously positive when the market opened up with a big sell on Tuesday and the market fell to long term fair value. This valuation support level has... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market delivered third straight positive day as DOWJONES popped over 600 points (i.e. 3rd best day ever!!!). We turned cautiously positive when the market opened up with a big sell on Tuesday and the market fell to long term fair value. This valuation support level has held for the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market delivered another positive day despite futures pointing to a negative day at the open. As we wrote on the “Morning Strip”, we expected the negative day to turn positive as market started to look past the short term worries and paid more attention to long term dynamics in... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market surprised everyone with a short covering recovery to finish on a strong positive despite the early morning selloff. The global unknown is the growth rate of the Chinese economy. Global sentiment improved today as PBOC tried to calm markets down confirming their growth outlook views while leaving the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market remained negative from open in line with negative global sentiment and NZ rate cut. Institutional investors moved yesterday to lock in the recent gains as the first sign of US reporting season wobble with Apple. The market was lead negative mainly by resources while small caps held flat... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market continued the positive momentum for the 6th day in a row despite substantial pullback in other resource countries like Canada and Brazil over the past few days. The market looks like running out of steam, but the yield thematic continues to drive it higher. With reporting season approaching,... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market finished well after getting hit with APRA’s move on banks on top of a flat global lead. SHL was hit on profit guidance showing that domestic consumers are not spending even on health care. There are no real surprises here as PRY result last week showed that this... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market opened slightly negative with profit taking despite positive global lead and worked its way back to close flat. We continue to feel that the two main global macro risks are now in the process of being managed out and that will drive markets higher. As we expected yesterday,... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market opened positive with Greek deal getting approved and then pulled back with some profit taking over the day. It would be naïve to think that Grexit will never come back. Greece is going experience prolonged austerity with high unemployment, lower benefits and rising costs. In this environment, we... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market opened positive with global sentiment and then made another leg up after China GDP growth slightly beat expectations. Grexit risk is still there but the contagion risk is now a non-event. Greece parliament has to accept the deal and act on it or face Grexit. EU is unlikely... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative on Grexit and Chiquities scare and then climbed the wall of worry to a positive day before collapsing under profit taking pressure at the close. Grexit risk is now a non-event. For the global markets, the key worry is that if EU offers a good deal... Show More