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

🇯🇵 A shift in flow signals a cautious pause in resource and industrial metals, even as inflows into Australian banks hold firm. The $CIA-AX outflow of $3 million from Cross-Sector Resource & Industrial Metals contrasts with a robust $8 million bid into ASB-AX, indicating a clear rotation away from commodities and toward financials. The inflows are concentrated among Australian names, with BOQ-AX and ASK-AX also seeing fresh buying, while the overall flow count remains low. This divergence underscores a tentative risk environment where investors are pulling back from commodities but remain committed to Australian banks. The next test is whether the inflows into ASB-AX and peers sustain or fade, as the resource sector's outflows suggest a possible pause or reversal in commodity sentiment. Watch for whether broader flows confirm or if this remains a one-stock move, especially in the context of upcoming economic data.