Sunset Strip > Trading Day Wrap From Blue Ocean 20170501

Mathan Somasundaram

Deep Data Analytics

Local market made started positive on global investors pushing up the banks before pullback as local investors took profit. After that all the open Asian markets recovered on the US congress deal to fund the US Government till September!!! Utilities, Industrials and Staples were the outperformers while Resources were the underperformers. Local stocks (1) RCG downgrade saw pain with Under Armour footwear sales decline feeding the frenzy (2) MYX downgrade on top of the regulatory risk ran into selling (3) TEN continues the slide on debt worries.

 

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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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