Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market ran up for the first half of the day and then pulled back in the second half to end up with seven straight positive days in a row. Institutional investors will be back next week after school holidays and likely to take some profit ahead of the reporting season as the market is trading at more than a decade high multiple. The expected pullback in Spot Gold to below US$1300 will offer another buying opportunity as we see substantial bounce before the end of 2016 in the Spot Gold towards US$1500. China data was strong today and that was delivered through government stimulus. There is a bit of US data dump tonight and that will clarify the status of the US economy. Despite the short term profit taking worry, we continue to remain positive on the medium to long term outlook for the equity markets.… (VIEW LINK)