Evening Report
Latest News The Aussie sharemarket finished near session highs and rose for the first time in three days, with the ASX 200 up 40.7pts or 0.58 per cent, to 7015.6. The mining sector did much of the heavy lifting today after it rose by 1.9 per cent – the strongest rally it’s had this week….
China’s coastal bulk freight index up in July
China’s coastal bulk freight market saw an expansion in July as high temperatures in various parts of the country pushed up the demand for energy, industry data showed. On a monthly basis, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, rose 8.9 percent to 1,142.32, according to…
NW China’s Shaanxi sees foreign trade up 6 pct in H1
The foreign trade in northwest China’s Shaanxi Province rose by 6 percent year on year to over 236.2 billion yuan (about 34.9 billion U.S. dollars) in the first half of this year, authorities said. During the period, the province’s exports stood at over 144.2 billion yuan, up by 28.7 percent year on year, while its…
CommSec Morning Report Friday August 5, 2022
Latest news In US economic data, the trade deficit fell from US$84.9 billion to US$79.6 billion in June (survey: US$80.1bn). According to Challenger, job cuts totalled 25,810 in July, down from 32,517 in June. New claims for unemployment insurance (jobless claims) rose by 6,000 to 260,000 in the past week (survey: 259,000). European sharemarkets lifted…
Superannuation clients may be eligible for compensation
Former clients of Dixon Advisory and Superannuation Services Pty Limited (in administration, ‘Dixon Advisory’) may be eligible for compensation under a potential future Compensation Scheme of Last Resort (CSLR) but they will need to take action as soon as possible. ASIC will soon be writing to former clients of Dixon Advisory to inform them that…
Electricity use mirrors economic recovery
China’s electricity consumption, a key barometer of economic activity, has been rising in recent periods, indicating the continuous recovery of enterprises’ production and economic operation. The country’s total power use increased 2.9 percent year on year in the January-June period to 4.1 trillion kilowatt-hours, according to the National Energy Administration. In June alone, power consumption…
Telstra undertakes to address 5G competition concerns
The ACCC has accepted a court-enforceable undertaking from Telstra to address competition concerns about Telstra’s registration of radiocommunications sites in low band spectrum that interfered with Optus’ plans to roll out its 5G network nationally. Following an intensive investigation, the ACCC was concerned that Telstra’s registrations of these sites had the substantial purpose or likely…
Shanghai port registers record throughput
Shanghai Port registered a throughput of over 4.3 million Twenty-foot Equivalent Units (TEUs) in July, a record high in the same period, the port operator said Tuesday. From January to July, the port’s total throughput achieved positive growth compared to the same period last year despite the impact of the COVID-19 epidemic, according to Shanghai…
CommSec Morning Report Thursday August 4, 2022
Latest news In US economic data, the ISM services index rose from 55.3 to 56.7 in July (survey: 53.5). The S&P Global services index fell from 52.7 to 47.3 in July (survey: 47). Factory orders rose by 2% in June (survey: 1.1%). Mortgage applications rose 1.2% in the past week after falling 1.8% in the…
Why does the RBA keep hiking interest rates?
There are signs inflation pressures are easing. Oil prices are down almost 20% on their peak in March. They’ve been falling consistently for a month. The average capital city unleaded price is down from A$2.11 per litre in early July to a more bearable $1.74. The money market is pricing in much lower inflation than…
