Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market has delivered 8th straight positive day since the middle of December on relatively low turnover. Local retail investors are in control during school holidays and they are chasing bargains in low interest rate environment while the global investors were happy to be on the sidelines as the currency remains as steady as a rock. The last time the market had more than 8 consecutive positive days was in February 2015 and the one before that was in August 2013. The recent positive trend should continue into New Year and the risk of profit taking will start to bite as the institutional investors come back in the middle of January and look forward to the reporting season in February. Today’s moves in some stocks were exaggerated by short covering while global investors were buying into yield in equities and bonds. Notable moves today were… (VIEW LINK)