Retail sales down as price growth slows
Apparently, we spent a bit less in the last quarter of last year compared to the one before. But don’t stress, it’s not as bad as it sounds. The experts thought we’d spend even less, so the fact that we only spent a little bit less is actually a good thing. And yeah, it might…
Global investors snatch up Yuan assets amid recovery prospects
Bullish on China’s head start in economic recovery in 2023, global investors are lining up for yuan-denominated assets. Market data shows that net overseas capital inflow into shares traded at the Shenzhen and Shanghai bourses hit a single-month record of 131.146 billion yuan (about 19.4 billion U.S. dollars) in January, more than the whole of…
Tarim Oilfield natural gas output tops 400 bln cubic meters
The Tarim Oilfield of China National Petroleum Corporation (CNPC), China’s leading oil and gas producer, has produced upwards of 400 billion cubic meters of natural gas so far, the latest figures show. The Tarim Oilfield, located in the Taklimakan Desert, northwest China’s Xinjiang Uygur Autonomous Region, is a major natural gas source for the country’s…
CommSec morning report 7 February 2023
European sharemarkets closed lower on Monday, pulling back from 9-month highs, as fears that the global interest rate hiking cycle could persist for longer than previously expected weighed on rate-sensitive technology (-1.9%) and real estate (-2.1%) shares. Shares of Stockholm-listed real estate firm Fabege dropped 8.7%. Retail stocks fell 2.2% as concerns around elevated China-US…
Evening markets report 6 February 2023
The Australian sharemarket edged lower on Monday, ending the 3-day winning streak. The S&P/ASX 200 index fell by 19 points or 0.25 per cent to 7539 points. In overseas markets on Friday, key indexes in the US were weaker as investors digested strong jobs and earnings results. The Dow and the S&P 500 both fell…
Petroleum price caps to bite Russia
A coalition of Western democracies have taken steps to limit Russia’s exports of crude. The main objective of these measures is to curb Russia’s financial resources and put pressure on their government to resolve the ongoing conflict in Ukraine. The group of countries has agreed on new price restrictions for Russia’s oil products, with an…
Global companies tap into China’s market
As China’s economy rebounds following its optimized COVID-19 response, global companies are eyeing the upcoming third China International Consumer Products Expo (CICPE) as a platform to gallop into the market. This year’s CICPE is scheduled to be held from April 10 to 15 in Haikou, the capital city of south China’s tropical island province of…
Tesla posts robust sales growth in January
The U.S. electric automaking giant Tesla sold some 66,000 vehicles in China in January, up 10.3 percent year on year, the company said on Friday. In early January, the electric automaker slashed the prices of its popular China-made models, including Model 3 and Model Y, by 20,000 to 48,000 yuan (about 2,968.15 U.S. dollars to…
Company profit reporting underway
It’s time for a look at what’s happening in the world of corporate Australia. This profit reporting season is set to be a major turning point for the entire economy, according to analysts. Morgan’s predicts that companies will be adjusting to a new economic landscape and that there will be a noticeable shift. Interest rates…
Government starts crypto regulation discussion
Hey there, tech enthusiasts! Have you heard the latest news about cryptocurrency? The government has finally started its much-awaited inquiry into the regulation of digital assets. Treasury is asking for input on token mapping as they aim to create a shared understanding of crypto assets within the Australian financial services regulatory context. This has been…
