Earnings risks are mounting for The ASX, if only because the market activity of the last six months - notably IPOs - is unlikely to be sustained

Earnings risks are mounting for The ASX, if only because the market activity of the last six months - notably IPOs - is unlikely to be sustained. ASX data released after-market yesterday shows the volume of cash equities traded grew 6 per cent in the month of February, with a similar increment in average daily trades. Year to date, volumes have gained 18 per cent and average daily trades by 17 per cent. But in February the total value of trades declined 3 per cent and the average value per trade by 9 per cent. JP Morgan and Deutsche Bank share the view that the earnings risks for the ASX have risen a touch'' and that the revenue growth backdrop for the ASX is looking increasingly tough as SFE (futures) volumes plateau and capital raising struggles to match a strong first half.'' (VIEW LINK)