Sunset Strip | Aussie market followed the global negative lead and gave back most of yesterday's gains

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market followed the global negative lead and gave back most of yesterday's gains. The higher than normal volumes in school holiday period suggests that global investors continue to sell out of Australian market with domestic economy and currency worries. Positive catalysts (1) just short of $7b worth of dividends from 16 of the top 100 companies hit shareholder accounts this week (2) Our market has pulled back nearly 10% in USD over September while the drop in US S&P 500 is 1% (3) Euro stimulus is about to get articulated soon while China consumer sentiment will need some policy response to get back on track (4) US growth likely to be downgraded with action in Middle East and Africa (5) Any correction in US will force our currency down and buffer valuations. Trading idea of the day: Henderson Group (HGG). Wednesday's Star Performer: Vita Group (VTG). (VIEW LINK)


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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