Quay Mid-Day Market Update

The Australian Share Market is in negative territory to kick off the session, with the market seeing some profits taken ahead of the anticipated GDP figures out of China. Overnight weakness on Wall Street session was offset with rises in crude oil and Iron Ore to see a flat open to the day before we saw shares lose ground at around 11am. Market Turnover actually was well improved at $1.968 billion in comparison to the beginning to the week, maybe a few people returning mid-week to work. No doubt this afternoon’s trade will be heavily influenced by the Chinese GDP number. Also to be released is Chinese retail sales and Industrial production data, given the poor numbers from earlier in the week the market does need at least a number in line with expectations of growth of 7% not to be sold off. In a quiet day of economic releases locally, we had the Westpac-Melbourne Institute Consumer Confidence... For the entire wrap please visit (VIEW LINK)


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