The ASX200 has fallen 1.4% so far today, which is a modest fall compared to other markets in the region.
The reporting season has been seen in line with expectations and thus has helped the ASX200 outperform the reest of the world month to date. All eyes are on the 3217 previous low. If that gives way then there is a view that we will see a capitulation.
On the day we see the financial and resource stocks lead the market lower. CBA and NAB both down over 2% and Macquarie Bank down 4.2%. CBA said that they would buy a $A2.2 Bio portion of Wizard Home Loans’ book. BHP and RIO also down near 2%. Amongst the positives, Woodside is up 2.8% and gold stock Lihir also up 2.1%.