Wednesday evening report
Despite a mixed lead from Wall Street overnight, the Australian sharemarket finished 0.4 per cent or 26 pts higher, to 7155.2. Banks were noteworthy winners and were supported by a lift in US treasury yields and a hike in the New Zealand interest rate. The big four banks all climbed by at least 1 per…
Economic Watch: Policy to steer China’s economy
BEIJING – China’s cabinet has urged the implementation of a large-scale policy package, which is expected to bring the country’s economy back on track amid downward pressure and tackle difficulties encountered by market entities, according to experts. China will implement 33 measures in six fields, mainly fiscal and related measures, to stabilize economic performance, according…
CommSec morning report Wednesday
In US economic data, new home sales fell from a 0.709 million annual rate to 0.591m in April (survey: 0.75m). The Richmond Federal Reserve manufacturing index fell from +14 to -9 in May (survey: +12). The S&P Global manufacturing index fell from 59.2 to 57.5 in May (survey: 57.5) and services fell from 55.6 to…
Tuesday evening report
Despite reaching a high of 7165 (0.2 per cent), the market succumbed to selling pressures and finished 0.3 per cent or 20 points lower, to 7129. The local Info Tech sector weighed on the index after it posted its first loss in three days. But the Financials sector managed to cap losses after it was…
central bank conducts reverse repos to boost liquidity
BEIJING, – China’s central bank Tuesday conducted 10 billion yuan (1.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system reasonably…
China’s mushrooming high-tech industries
BEIJING – Significant shifts are underway in the employment situation of the Chinese workforce, fueled by the country’s rapid development of innovative and high-tech industries. Latest data from a research unit under Liepin, a job-hunting website, shows that industries including intelligent manufacturing, integrated circuits, artificial intelligence and biomedicine are short on talent. To be more…
ASIC disqualifies former Victorian director
ASIC has disqualified James Sackl, of Southbank, Victoria, from managing corporations for three years and six months due to his involvement in the failure of five companies. Between October 2013 and December 2018 Mr Sackl was a director of: Dash Technologies Pty Ltd (ACN 611 629 773) Ad Astra Institute Pty Ltd (ACN 611 629…
China’s services trade up 25.8 pct in Q1
BEIJING, – China’s services trade value grew 25.8 percent year on year in the first quarter of 2022, data from the Ministry of Commerce showed on Thursday. The total trade value stood at nearly 1.46 trillion yuan (about 221.86 billion U.S. dollars), according to the data. Services exports expanded 30.8 percent year on year to…
CommSec morning report Tuesday
In US economic data, the Chicago Federal Reserve national activity index rose from 0.36 to 0.47 in April (survey: 0.35). European sharemarkets were firmer on Monday. A survey from the Ifo institute showed that German business morale unexpectedly rose in May. And in corporate news, Siemens Gamesa rose 6.2% after Siemens Energy launched a 4.05…
Monday markets evening report
Despite a strong start to trade, which saw the Aussie sharemarket reach highs of 0.7 per cent, the S&P/ASX 200 finished on a flat note, gaining 0.1 per cent or 3 pts, to 7149. The Materials sector did much of the heavy lifting today after the price of iron ore rose by 2.5 per cent…
