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Banks weigh on markets as investors wait and see

Announcement posted by de2 Communications 20 Oct 2015

The Aussie market is slightly weaker today, as losses in materials and banks are outweighing strength in defensive healthcare and telco plays.

“There really isn’t much going on today,” notes Australian Stock Report Head of Research Chris Conway, “following the lacklustre leads from the overnight session.”

“After the recent run-up, traders and investors are hanging back which is unsurprising given the lack of catalysts today”.

“Markets are very event and data driven at the moment, with participants seemingly reluctant to be proactive and buy and sell stocks in anticipation of things happening.”

“Rather, they are waiting for things to happen, and then reacting as best they can. Until the macro storm clouds that are hanging over the market (China, US Fed and global growth) begin to dissipate, expect more of the same.”

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