Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market started negative and saw substantial selling at the close to end at the lows. Chinese market will take a few days to settle and build better sentiment. The market is likely to trade sideways to down over the next few weeks before strong profit taking pressure brings it back as the US and domestic reporting season worries take hold. We will see a slight pullback and then the corporate outlook will support the next leg in Feb. Local retail investors stayed mainly on the sidelines while the global investors were selling large caps to reduce exposure due to currency worries. Global market should bounce back from yesterday’s selloff but likely to be lower magnitude. As we wrote last week, “GREED IS GOOD, BUT PROFIT IS BETTER”. Notable moves today were… (VIEW LINK)