2:11pm: Don Williams, the chief investment officer of Platypus Asset Management, said he was treating the recent falls in the Australian stock market as a seasonal correction.
"It starts in March and it runs for about three to five months. [Our market is] down by about 10 per cent. There is potential for the market to go lower, but we think it will pull up somewhere between 10 and 15 per cent. We think the bulk of the move is behind us," Mr Williams said.
"The earnings environment in the US is obviously better than in Australia, but I don't think the Australian market will go back to 4000.
"I think we would need a shock or an event far worse than what we have seen in the last few weeks to trigger that. We are expecting it to pull up somewhere around 4500."
AGO Price at posting:
70.7¢ Sentiment: Hold Disclosure: Held
