Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market delivered an unexpected positive day despite negative global sentiment and China growth worries. The optimism may be misplaced as Shanghai Composite is now down nearly 9%. The bounce was led by BHP while Banks held the ground. The story floating around is that the investors in China saw property prices were showing signs of recovery and jumping out of equities to property again. Commodities still remain weak, US rate rise in play and China wobbling does not build confidence, but on yield weighted basis the index is back below fair value level of 5600. We maintain our positive reporting season trade in the gold sector due to the solid margin/global risk play. This week is full of macro, middle of US reporting season and start of domestic reporting season…domestic fund managers are likely to “Sell the rumour and Buy the fact”…once you lose positive momentum, it’s hard to get it back…profit taking risk remains high with higher volatility...stay nimble!!! (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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