I fear in Australia we take too much lead from the states. Our market will do fine today and for the rest of the week. We must be weary as it is reporting season in the States, so the bad results will pull the Dow and Sp and Nasdaq down and then us because we follow their lead.
Resources are coming off as China is now being forced to revalue its currency. Sectors like retail will come back online now after ebign average for a while.... but still the play should be on recreational property, I mean hotels, apartments etc. watch for BJT babcock and browns new Japanese property vehicle, coz of IR is Jap they have geared 50%, so the returns will be huge on equity