Flows are rotating into Australian Cross-Sector Cohort while BGL.AX weakens

🇯🇵 A clear flow shift is underway, with outflows outweighing inflows and a dominant $180M exit from BGL.AX signaling caution. Despite modest inflows into the Australian Cross-Sector Cohort, the heavy exit from BGL indicates a risk-off stance among traders, risking further downside if the theme continues to weaken. The biggest outflow from BGL.AX underscores a significant rotation away from resource-exposed stocks. Meanwhile, inflows are concentrated into the same cohort, led by $BOQ-AX, but the net effect remains negative. Next, watch whether the outflows from BGL persist or if buying re-emerges into the broader financials, which could stabilize the market.