INDICES: ASX On A New Path?


*ASX wipes 2% at open on heightened risk aversion
*ASX index fails to clear July highs
*Are we in for a material trend reversal? 



Following Tuesday's sluggish US PMI print which amplified global growth concerns - concerns that have been building throughout financial markets - equities are now pointing broadly down. The question remains though, will bearish price action be transitory or are we in for a material trend reversal - something in which contrarian equity investors have been proclaiming for sometime now attributing equity overvaluation, weaker earnings and low forward looking growth.



Back