Local market fell on the open before making a decent recovery on the back of recovering US market futures and better than expected building approval data. US and UK will be back online tonight while China will be back online on tomorrow. Tax loss selling in May/June and seasonal weakness are likely to add to the overall short term negative sentiment in the short term. Market Outlook likely to remain volatile in the short term with macro risks while medium to long term view remains positive. Big macro week…(1) WEDNESDAY > AUS Private Sector Credit, CANADA GDP, CHINA Manufacturing PMI (2) THURSDAY > AUS Private Capex, AUS Retail Sales, CHINA Caxin Manufacturing, EU Markit Manufacturing, US ISM/Markit Manufacturing, US ADP Employment (3) FRIDAY > AUS New Home Sales, US Non-Farm Payrolls, US Trade Balance. The best performers were Gold, Banks and Miners while Energy, Telcos and Property were the worst performers.


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