Local market followed the global markets higher as US/NK fake war worries subsided. US seems to have moved on…now trying to start a fake trade war with China and threatening to move against Venezuela. North Korea on the other hand has decided to postpone the test missile launch. Locally the federal government is holding onto power by a bare 1 seat technical illegal minister. The government has been in autopilot for years and now its going to get worse…not sure how you can do less than nothing. The market has a relief rally jump before reporting season reality pilled the market back. The market remains in very low sentiment and reporting season will continue to deliver big swings…stay nimble!!! We are expecting updates tomorrow from BWX, CPU, CSL, DXS, FBU, FXJ, IPH, ISU, IVC, ORG, PGH, SEK, SGP, SHL, VCX, WFD and WPL. DMP showed what happens when high PE growth story under delivers…down 19%!!! The best performing sectors were Telecom Services, Property Trusts and IT while the worst performers were Energy, Gold and Metals & Mining.
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