Sunset Strip (Afternoon Report) - Aussie market finished in the positive territory after global bounce overnight

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market finished in the positive territory after global bounce overnight. We turned positive short term on 25th March after the markets had priced in manufacturing slowdown on a global basis, US/Euro action against Russia had been irrelevant and China slowdown reduced credit risk. We maintain our view since then due to local markets to benefit from nearly $10b dividends being reinvested locally, better US data, China stimulus plans and more accommodating US/Euro Fed. Today was a subdued positive day as expected due to the big short cover boosted performance yesterday. We expect tomorrow to be similar with local market unlikely to take on more exposure at post GFC high level with lack of global lead. Main thematics for the day were optimism, more short covering and media M&A speculation. (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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