Quay Mid-Day Market Update

The Australian Share Market has opened the week deep in the red directly influenced by the negative session on Wall Street as the market was again hit with concerns out of Greece and its debt issues, while a packed & mixed release of earnings in the U.S and the moves from the People’s Bank of China which saw the central bank slash the reserve requirements for banks in steps to stimulate their economy saw profits taken today. Market Turnover continued its quiet trend from last week, with turnover into lunch only $1.175 billion. I think most of the damage has already been done in the opening hour, the market likely to drift sideways with no major economic data scheduled for the Asia Pacific region. Around the market the major lag on the market was the financials & retailers.... for the entire wrap please visit (VIEW LINK)