Mathan Somasundaram

Local market was smacked down after US market decided to hit the reverse button after optimism was far ahead of valuation. The last time the local market took a worse belting was in Nov 2016. US market moved into second part of “Buy the rumour, Sell the fact” trade as US fiscal policy ran into multilevel execution problems. Local market was pulled down by the big boys in miners and banks while gold and property were the only positive performers.

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