Evening markets report 27 January 2023
The Australian share market closed higher recording 4 weeks of consecutive gains and also reached 9 month highs. The ASX 200 lifted by 25.5 pts or 0.34 per cent to 7493.8 with eight (of 11) sectors gaining ground. Miners gave up early gains to close flat while the energy sector fared the worst. Coal miners…
Hong Kong’s financial market ready to take big leap
The Hong Kong Exchanges and Clearing Limited (HKEX) held on Thursday a live opening ceremony, the first time since 2020, to mark the first trading day of the Year of the Rabbit. Hong Kong’s stocks and gold went up on Thursday, with the benchmark Hang Seng Index rose 341.72 points to open at 22,386.37 points,…
Strengthening Australia-US commercial ties
Minister for Industry and Science Ed Husic will promote Australia as an advanced and reliable commercial, science and technology partner during a visit to the United States from 25 January to 2 February. The US is Australia’s third largest export market and the largest source of investment in Australia. “The Australian Government works closely with…
Gas supply outlook improves but shortfall still possible
The ACCC’s latest gas inquiry report forecasts a supply shortfall of 30 petajoules (PJ) in Australia’s east coast gas market this year if the LNG producers were to export all their uncontracted gas. However, the LNG producers have enough uncontracted gas to prevent a domestic shortfall. The report covers a period of record high domestic gas prices,…
Huge Investment Means More Jobs, More Freight On Rail
The Albanese and Andrews Labor governments have welcomed significant private sector investment to build and operate a $400 million intermodal freight terminal in Melbourne’s north. Intermodal Terminal Company (ITC) announced it would soon start construction of the Somerton Intermodal Terminal, which will be a key node in the Australian and Victorian governments’ $58 million Port…
ACCC social media sweep targets influencers
The ACCC has this week started a sweep to identify misleading testimonials and endorsements by social media influencers. It will also look at more than 100 influencers mentioned in over 150 tip-offs from consumers who responded to the ACCC’s Facebook post asking for information. Most of the tip-offs from members of the public were about…
CommSec morning report 27 January 2023
In the US, the economy grew at a 2.9% annual pace in the December quarter (survey: 2.6%). Durable goods orders rose by 5.6% in December (survey: 2.5%). The goods trade deficit rose from US$82.93 billion to US$90.3bn in December (survey: US$82.5bn). Claims for unemployment insurance fell from 192,000 to 186,000 (survey: 205,000) in the past…
Victoria remains the strongest for retail spending
The measure used was real (inflation-adjusted) retail trade in seasonally adjusted terms with September quarter data the latest available. Victoria leads on ‘real’ retail spending A solid job market, rising wages, strong construction and renovation activity have supported retail spending over the past quarter. Spending has lifted despite weak consumer sentiment, cost of living pressures…
Evening markets report 25 January 2023
The Australian share market’s five-day winning streak (longest in six months) came to an abrupt end due to hotter than expected inflation, with the ASX 200 slipping by 22.1 pts or 0.3 per cent to 7468.3. It was a tentative start to trade, with the market running on the spot for the opening 90 minutes…
Regional trials of zero emission buses
The NSW Liberal and Nationals Government is pushing ahead with a $3 billion commitment to transition its bus and coach fleet to zero emission technology, with a new trial set to begin across regional NSW. The Expression of Interest (EOI) process is now open for bus and coach operators to participate in the $25 million Regional Zero…
