Midday Market Commentary: Aussie Lower
The Aussie market is underwater so far today with the local bulls running with the bearish leads provided by international markets overnight.
The XJO is currently holding around 4400, 30 points (-0.6%) underwater.
The losses are fairly widespread, with most sectors in the red; energy, industrials and materials are the hardest hit, whilst defensive IT, telcos and consumer staples are the best performers.
Around the region, Asian markets are weaker; the Hang Seng is down 0.8% whilst the Shanghai Composite is 0.2% weaker.