Sunset Strip | Aussie market pulled back on tax related selling despite a flat global lead

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market pulled back on tax related selling despite a flat global lead. Aussie market was down 0.91% with turnover was just above $4.3b. Credit data was slight positive locally while new home sales pulled back. We are expecting RBA to leave the rates as they are and trying to talk the currency down while the China PMI data should be positive given the recent trend of flash PMI improvements. We continue to feel that the market will start its positive run with the new financial year and find that result season is unlikely to be the Valley of Death as expected by most market pundits. We continue to favour TMT (Tech, Media and Telecommunication) sectors and expect them to outperform the Big Banks and Big Miners in the next 12mths. (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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