Flows are rotating into Cross-Sector Resource & Industrial Metals while BGL.AX weakens

🇯🇵 A clear flow shift is underway with outflows dominating inflows in equities, signaling a potential shift toward risk aversion. The market saw four outflow clusters versus just one inflow, with the largest exit from BGL.AX hitting $141 million. Meanwhile, the only prominent inflow emerged from the Cross-Sector Resource & Industrial Metals theme, led by $CIA-AX, drawing in $61 million. This divergence suggests traders are actively pulling capital from high-beta, thematic positions while rotating into more defensive or resource-oriented assets. The next key test will be whether this inflow into industrial metals sustains and broadens, confirming a rotation away from broader equity risk. Watch for whether the resource flow continues to gain momentum or if outflows from other sectors accelerate, which could deepen risk-off sentiment.