Federal elections: Impact on the sharemarket
In the 11 elections held since 1990, the All Ordinaries Index climbed by an average of 1.2 per cent in the 15 trading days after poll date. In fact, the All Ordinaries Index has risen in the 15 trading days following every one of the eight federal elections held since 1998. In the 15 trading…
CommSec morning report Wednesday
Latest news In US economic data, retail sales rose by 0.9% in April in line with forecasts. Industrial production rose by 1.1% in April (survey: +0.5%). Business inventories rose 2.0% in March (survey: 1.9%). The NAHB housing market index fell from 77 to 69 in May (survey: 75). Speaking at a Wall Street Journal event,…
SGMW posts record new energy vehicle sales
SAIC-GM-Wuling (SGMW), based in Liuzhou of south China’s Guangxi Zhuang Autonomous Region, reported record new energy vehicle sales. By the end of April, the company had sold more than 700,000 units of Hongguang MINI EV, a new energy vehicle model. During the January-April period this year, the company registered sales of 133,902 units of such…
Tuesday evening report
Latest News Despite a mixed lead from Wall St overnight, the Aussie sharemarket lifted by another 0.3 per cent or 20 points, to 7113. This is the ASX 200’s third straight win and its best start to the week in a month. Energy stocks were amongst the best performers, after the sector’s 2.1 per cent…
Former NSW financial adviser sentenced
Ezzat-Daniel Nesseim, of Pymble, NSW, has been sentenced to a three-year intensive correctional order, including one year of home detention, for engaging in dishonest conduct and providing falsified documents to ASIC. Between 16 August 2017 and 11 October 2017, Mr Nesseim engaged in repeated dishonest conduct, including by: using three forged wholesale client certificates by…
PBOC adds liquidity to financial system
BEIJING – China’s central bank on Tuesday conducted 10 billion yuan (1.47 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…
Memory chip manufacturing project breaks ground
DALIAN – SK hynix, a semiconductor firm headquartered in the Republic of Korea, started constructing a non-volatile memory manufacturing project in northeast China’s Dalian City on Monday. The project will include a new wafer factory to produce non-volatile 3D NAND chip memory products. SK hynix closed the first phase of the transaction to acquire Intel’s…
CommSec morning report Tuesday 17 May
Latest news In US economic data, the New York Empire State manufacturing index fell from +24.6 to -11.6 in May (survey: +17). European sharemarkets were mixed on Monday with investor sentiment dented by weak Chinese economic data. Luxury good stocks fell with LVMH down 1.1%. But miners rose 1.6%. The panEuropean STOXX 600 index was…
Markets evening report
Latest News The Australian sharemarket started the week on a somewhat positive yet cautious note, extending its gains from Friday by 0.3 per cent or 18 pts to 7093. Today’s gains followed the US sharemarket’s strong performance on Friday, which seemed encouraged by calming comments on interest rates by Federal Reserve Chair Jerome Powell. With…
Former financial advisor with 17 offences
On 13 May 2022, Mr Ashley Grant Howard, of Hobart, Tasmania, appeared in the Newcastle Local Court via his legal representative, charged with 17 offences under the NSW Crimes Act. It is alleged Mr Howard used 17 false transfer forms to arrange for shares in GPS Alliance Holdings Limited, BHP Billiton Limited and Aquarius Platinum…
