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

🇯🇵 A clear shift from sector-wide resource and industrial metals outflows to targeted inflows into Australian banks signals a narrowing of conviction. The market is pulling back from broad resource exposure while piling into specific financials, notably $ASB-AX, which attracted an $8M bid, confirming a move away from diversified resource themes. The largest outflow from CIA-AX underscores the retreat from cross-sector resource plays, but the overall inflow into financials suggests a more selective risk appetite. This flow pattern indicates traders are prioritizing bank-specific opportunities over broader commodity exposure. The next test comes as the inflows into BOQ-AX and ASK-AX solidify, hinting at a shift toward financials as a safe haven or alpha generator. Confirmation will come if inflow momentum sustains in these names, further narrowing the market’s focus away from resource sectors.