Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market started positive on global lead and strong commodities and finished about the same level after pulling back a bit on weak Job market update. The Chinese NPC delivered a downgrade that most would have expected on the weekend while the stimulus plans are more about stabilising fear than driving up demand. The market is running on its merry way like there is no care in the world. So what has changed in the last 2 weeks? Are domestic fund managers suddenly buying up banks and miners? We don’t believe so. The main factor that turned the sentiment was short covering.............…. (VIEW LINK)