Sunset Strip > Trading Day Wrap From Blue Ocean 20170411

Local market opened high and then declined as the global investors took their foot off the peddle. The local market is getting pushed up by global investors taking money out of Japan and looking for somewhere to park it in Asia…due to the worry that rising Yen will hurt Japanese manufacturing industry. Global markets are in holding pattern with no real sentiment to drive higher while local markets are reach near 2015 all-time highs…Safety investment remains the main thematic for local investors as stretched markets and geopolitical issues weigh on investment thematics…spot gold held despite bounce in USD while bond yields continue to fall. Banks lead the market higher while Utilities, Telcos and Miners were the worst performers..

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