Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market held up better than expected for the second day in a row. Global sentiment remains negative and Chiquities weren’t as bad as expected overnight. The market was held up by mainly Energy and Bank stocks. The Chiquities opened up down 4-5%, but then recovered to be down 1-2% in line with global sentiment. China risk remains, but PBOC will move to absorb any further negatives. We continue to see more risk in the equities and economy, but the downside risks are limited. Commodities still remain volatile, US rate rise in play and China growth risk does not build confidence, but on yield weighted basis the index is back below fair value level of 5600. The strength in the domestic market over the last two days shows that the buyers are coming back into the market. Despite the market strength of late, reporting season risks will keep the market on edge while global macro risks hover above...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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