HC Securities Market View: Positive global sentiment may push local shares higher

Announcement posted by de2 Communications 03 Mar 2016

Sydney: 3 March 2016 --- Global markets are showing signs of positivity which are trickling into the local sharemarket.

“We saw the US market inching closer to the psychological 2000 level,” said Mark Lennox, chief executive at HC Securities.

“And this level is acting like a magnet pushing the ASX200 through 5000 and the blue chips higher.”

Lennox added, “Investors are thriving in the positive shift in sentiment as the oversold financials push towards paying dividends.”

He also said, “The bears have been flawed by inflationary data in the US suggesting the green shoots in the US are real and the Federal Reserve made the correct move in raising interest rates.”

“We anticipate the market to trade higher in the near term and investors are positioning in heavily oversold and short sold stocks for a reality check,” Lennox said.

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