CommSec morning report 11 January 2023
In a speech delivered to Sweden’s Riksbank on Tuesday, US Federal Reserve Chair Jerome Powell avoided commenting on US interest rate policy. But he said, “restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy.” In US economic…
Evening markets report 10 January 2023
The Australian sharemarket snapped a four-day winning streak, with the ASX 200 slipping by 20.3 pts or 0.3 per cent to 7131. Investors grew cautious ahead of a key speech by Federal Reserve Chair Jerome Powell tonight at 1am AEDT and a highly anticipated monthly update on US CPI (consumer inflation) due Thursday. Both could…
More targeted support to accelerate China’s economic recovery
China’s prudent monetary policy will be more targeted and effective this year to provide stronger support for the overall recovery and improvement of its economy, according to financial officials and experts. In a statement released after the latest quarterly meeting of its monetary policy committee, the People’s Bank of China (PBOC), the country’s central bank,…
Global powerhouse Techstars joins Tech Central
Local technology startups are set to boost their growth with Techstars, a global investment business providing access to capital, one-on-one mentorship and programming for early-stage entrepreneurs, joining Sydney’s Tech Central district. Minister for Enterprise, Investment and Trade Alister Henskens said securing Techstars would cement Tech Central as a global innovation hub, with more support for global…
NEV makers vie for greater market share
At the just-concluded 20th Guangzhou International Automobile Exhibition, emulative Chinese carmakers displayed their latest development in new energy vehicle (NEV), showing their ambition and confidence to vie for the electric and intelligent vehicle market. GAC Aion, an NEV subsidiary of Guangzhou Automobile Group Co., Ltd. (GAC Group), unveiled its latest coupe Hyper GT, a highlight…
Interim stop order placed on the Pivotal Diversified Fund
ASIC has issued an interim stop order preventing Vasco Responsible Entity Services Limited (Vasco) from offering or distributing the Pivotal Diversified Fund to retail investors because of deficiencies in the target market determination (TMD). The interim order stops Vasco from issuing interests in, giving a product disclosure statement for or providing general advice to retail…
CommSec morning report 10 January 2023
In US economic data, consumer inflation expectations fell from 5.2% to 5.0% in December (survey: 5.2%). Consumer credit rose by US$27.96 billion in November (survey: US$25bn). European sharemarkets were firmer on Monday, hitting sevenmonth highs. Investors were encouraged by the fact that China was re-opening its borders. And German industrial production rose 0.2% in November…
Evening markets report 9 January 2023
The Australian sharemarket extended its winning streak to a fourth straight session, with the ASX 200 lifting by 41.7 pts or 0.6 per cent to 7151.3 on Monday. This followed the S&P 500’s 2.25 per cent jump on Friday thanks to slowing US wage growth and the first contraction in the services sector since 2020….
Government acts swiftly to ensure gas supply
Government working with industry to secure gas supply Actions prompted by gas supply outage Supply remains stable after Government, industry response The State Government is working to secure WA’s gas supply following an outage at Chevron’s Wheatstone domestic gas plant near Onslow. The plant experienced a technical failure on the evening of Thursday, January 5,…
Public Housing Renters Lead Way On Maintenance
The Andrews Labor Government is putting public housing renters first, through a new approach to address public housing maintenance. Five Local Maintenance Repair Crews will focus on proactively addressing maintenance tasks and repairs across Victoria, providing a more direct and timely way for residents to get the right help when they need it. Running across…
