End of Day Report

Marcus Padley

ASX 200 up 37.7 points to 5225.4 after materials drive index higher despite "eruptions" in Tokyo. Japan falls 3.6% on no more sugar hits despite woeful economic numbers. China down 0.6%. AUD rises to 76.3 with US Futures down 116. Another choppy day with central banks again the focus. The ‘will he, won’t he’ moment is building for Glenn Stevens next Tuesday, just to complicate Budget day. The market is now hoping that the evidence is enough to push him to cut by 25bps. Not so sure but we shall see. After an initial surge following better leads from overseas and a weaker dollar, the rally ground to a bit of a halt following news from Japan that the BOJ had left the stimulus program largely unchanged and had pared back estimates for growth and inflation. There is a serious issue developing in Japan. Something that seems to be lost on the markets with its obsession with all things Chinese. (VIEW LINK)


Marcus Padley

Founder of the Marcus Today share market newsletter. Marcus is a stockbroker and has been advising institutional clients and a private client base for over 35 years.

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