End of Day Report

ASX 200 closes down 58.6 points at 4932.2 bouncing hard off the 4900 support. Seven from seven down days. Materials and energy stocks bear the brunt of the selling as Chinese sell off continues, down 2.1%. Japan was closed for a holiday. US futures down 14 after a solid bounce. Welcome back to our first round up of 2016. We only wish it could be better news but after a horror start to the year, things went from bad to 'badder' then back to bad today with a big loss indicated by futures providing a weak start and it just got weaker from there. The market breached the 4900 level before finding some buyers in the afternoon session erasing half of the losses for the day. US Futures rallied back from down 60 to down 14, whether leading the ASX200 bounce or following, it is questionable. The low for the day was 4880 around 11.30 before the Yuan fixing at 12.15 pm helped sentiment slightly. - See more at: (VIEW LINK)