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Sunset Strip | Aussie market remained negative with mixed global trend

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market remained negative with mixed global trend. China Services PMI below expectation and RBA's lack of jawboning did not change the mood. Valuation, growth and yield aspect of Resources, Financials and Industrials are showing that we are paying historical high cost for growth and yield with risk factors piling up in both global and local basis. Optimism drove the market to historical high while the risks piling on the market finally broke the camel's back on Friday. We don't see this as a substantial correction, but a speed bump on the road to recovery. Spot gold has bounced back over $1290 and we see a risk trade coming with gold equities. (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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