Markets close on Christmas Day and we certainly miss Santa this year as He was not coming.
All in all, we couldn’t expect too much considering we had a heavy sell off last week, triggered very much by US Fed’s close to hawkish remarks on Wednesday, and that the rate hike schedule was no where near the end. Besides the partial close of US Government due to budget deadlock just made investors even more worrying.
Back to Australia, considering ASX 200 had a good start at the earlier part of 2018, and breaking 6351,reaching the all time high, and then it started sliding downward well as time went by, and hit a new low in 6 years recently.
So what went wrong with ASX 200? Was there any change in the fair value at the beginning of 2018, as compared to the end of it?
What’s the major challenge it will face in the new year and how likely it will fare in the first quarter when we saw consumer discretionary pretty struggling during Christmas period?
Morgan’s Asian Desk Chief, Raymond Chan, will give us some light on these issues.
