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…
Pickup truck sales down in first four months
BEIJING – China’s pickup truck sales dropped 11 percent year on year in the first four months of the year due to COVID-19 disruptions to production, industry data showed. A total of 165,000 pickup trucks were sold during the period, according to the China Passenger Car Association. In geographical breakdown, more than 40 percent of…
Europe freight train taps business opportunities
FRANKFURT – A third freight train recently arrived in Frankfurt from China and a local general manager believed that it would bring more business opportunities to the city. Given that transportations by sea and air are both strained, the China-Europe freight trains provided another way of direct connections, Kawus Khederzadeh, general manager of the industrial…
China’s natural gas output up
BEIJING – China saw a steady increase in its natural gas output in April, official data showed. The country’s natural gas output was 17.7 billion cubic meters in April, up 4.7 percent from a year ago, according to the National Bureau of Statistics. In the first four months of this year, China reported a total…
