Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Market built on the early positive run to finish a solid positive day despite a substantially weak GDP data. The weak GDP data, underemployment worries and low wages growth shows the weakness in the local economy despite the strong commodity prices. Beaten up stocks were the best performers again today with TPM leading the way back as management update helped to revive sentiment. TPM started the selloff in everything linked to telco sector and high PE growth stocks…and today they all recovered some lost ground…market will be hoping that trend holds. The best performers today were Banks and Miners while Energy was in the negative territory. Market was reading through the weak GDP towards another rate cut, but we think that optimism is misplaced. RBA will play it slow…remain in hold through 2017 and let the China stimulus and US Fed rate cycle do the work. BOC update tonight will give some colour to RBA’s view while ECB update tomorrow is the main game this week. For the full report… (VIEW LINK)


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Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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