Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market recovered from early selling pressure to only be slightly down despite negative global lead. Bargain hunters were chasing quality stocks in the selloff back near fair value as in August. The currency poked its head below 69 cents before closing above it while the global investor selling seems to run out of puff at these low market levels. US markets will be closed tonight for Labour Day. China re-joined the market malaise and was down 1.5% on the catch up from Thursday and Friday selloff. Chinese officials were in pains to explain that Chinese economy is close to the bottom while China restated the historical GDP growth rate down from 7.4% to 7.3% to positively window dress the forward growth rate. The market is showing value and the risk/return points to buying quality yield on the long term view…quality yield stocks in low growth outlook will deliver over time…global investor pain can be local investor gain…stay nimble…fear is high, but quality stocks in a crisis will deliver long term returns!!! (VIEW LINK)