Aussie shares well-supported by economy

The latest round of US credit worries, higher oil prices, local interest rate concerns, the impact of the strong Australian dollar, and the risk of another correction in Chinese shares are all significant short term risk factors for Australian shares. However, any correction is likely to be shallow compared to the falls into mid-August, says Shane Oliver, Sydney-based head of investment strategy and chief economist at AMP Capital Investors.ôOver the last decade the Australian economy …