Inflation vs growth: what matters more to investors?
High inflation is on everyone’s mind, but perhaps growth should be more concerning when taking investment decisions. It is true that to understand the present and face the future, we need to first understand the past. We have talked at length about the current inflation risks and, ultimately, stagflation scenarios and what this all means…
Evening report Friday
The Aussie sharemarket had its worst week since March 2020, with the ASX 200 extending its losing streak to a sixth straight day after declining by another 1.8 per cent or 116.3 pts, to 6474.8. Around 40 per cent of companies on the ASX 200 today traded at 52-week lows. The Consumer Staples sector was…
Economic Watch – NEV sector enters fast lane
Riding the waves of green transition, China’s new energy vehicle (NEV) sector has turbocharged growth and entered the fast lane. It is now geared up to play a bigger role in upgrading the global auto industry. Lastest data showed that China’s sales of NEVs topped 11.08 million units as of the end of May. Back…
China’s foreign trade grows 12.9%
CHONGQING – Southwest China’s Chongqing Municipality saw its foreign trade exceed 343.8 billion yuan (about 51.4 billion U.S. dollars) in the first five months of 2022, an increase of 12.9 percent year on year, the city’s customs authorities said Friday. Of the total, exports rose 19.5 percent year on year to nearly 226.2 billion yuan,…
Biggest US interest rate hike in 28 years
US Federal Reserve policy meeting The US Federal Reserve (‘the Fed’) hiked its target range for the federal funds rate by 75 basis points to a target range of 1.50-1.75 per cent, the biggest increase since 1994, to combat 40½-year high inflation. Fed Chair Jerome Powell said, “Clearly today’s 75 basis point increase is an…
ASIC charges three in alleged mortgage scam
On 16 June 2022, Brent Lindsay Smith and Fue Hiedi Mano of St Albans, Victoria, and Mahmoud Khodr of Melbourne, Victoria, appeared in the Melbourne Magistrates Court charged with criminal directors’ duties breaches relating to ‘interest-free’ mortgages offered by Remedy Housing Pty Ltd. It is alleged that between November 2019 and February 2021, the directors…
CommSec morning report Friday
In US economic data, housing starts fell by 14.4% in May to a 1.549 million annualised rate (survey: 1.69m). Building permits dipped 7.0% in May to a 1.695 million annualised rate (survey: 1.78m). The Philadelphia Fed manufacturing index fell from +2.6 points to -3.3 points in June (survey: +5 points). Initial jobless claims fell by…
China capable of meeting 3-percent CPI target
BEIJING, – China will see its consumer price index (CPI) continue to run within a reasonable range and is capable of attaining the 3-percent annual target amid the global inflation surge, an official said Thursday. “China’s inflation level is far lower than that of major economies such as the United States and the European Union,…
CommSec Evening Report
Latest News • The Aussie sharemarket wiped out gains of around 1.1 per cent and finished near session lows, after the ASX 200 shed 0.15 per cent or 9.9 pts to 6591.1. The strong start shadowed the performance of US markets, which surged after the US Federal Reserve increased its Federal Funds target rate by…
China allocates relief funds for crop pest control
BEIJING, – China has allocated 673 million yuan (about 100.3 million U.S. dollars) worth of agricultural relief funds to support crop pest prevention and control, according to the Ministry of Finance. The relief fund will be used to purchase pesticides and equipment for the prevention and control of major crop diseases and pests to ensure…
