Strengthening Ties With Southeast Asia Boosts Local Jobs
Driving Victorian jobs growth and providing new opportunities for businesses is at the heart of an economic mission to Southeast Asia taking place this month. Minister for Trade and Investment Tim Pallas will visit businesses and investment leaders in Vietnam, Indonesia and Singapore over 10 days from Sunday, 8 January, affirming the Andrews Labor Government’s…
China to make monetary policy more targeted
China will make its prudent monetary policy more targeted and effective in order to facilitate the overall recovery and improvement of its economy, a senior official said. In an interview with Xinhua, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, highlighted expanding effective demand and deepening supply-side reform as focuses of the…
CommSec morning report 9 January 2023
In US economic data, non-farm payrolls (jobs) rose by 223,000 in December (survey: +200,000). The jobless rate fell from 3.7% to 3.5% (survey: 3.7%). Average hourly earnings rose by 0.3% (survey: +0.4%) to stand 4.6% up on the year (survey: 5%). The ISM services gauge fell from 56.5 to 49.6 in December (survey: 55). This…
Evening markets report 6 January 2023
Only 4 of 12 sectors higher but ASX 200 +46pts or 0.65%. All Ords +49.5pts or 0.68%. Materials led the way, up 3.03% Energy +1.59% Industrials +0.03% ConsDisc +0.62% $BHP +3.2%; $RIO +2.4%; $MIN +6.9% ASX 200+1% over the week Originally published by CommSec
Winter sports businesses spur more jobs
An influx of visitors to ski resorts is bringing more jobs to China’s winter sports industry, as the new ski season in northeast China’s Jilin Province is in full swing. “There were more tourists learning to ski around New Year’s Day, and I had classes scheduled all day. I didn’t even have time for lunch,”…
Tesla’s Shanghai gigafactory delivers 710,000 vehicles in 2022
Tesla’s Shanghai plant delivered 710,000 vehicles in 2022, an increase of 48 percent from 2021, the U.S. electric carmaker said Thursday. Delivery of the Model Y at the Shanghai Gigafactory exceeded 450,000 vehicles last year, while that of the Model 3 surpassed 250,000, it said. In August 2022, the factory saw its 1 millionth vehicle…
CommSec markets update 6 January 2023
US shares fell on strong job data. ADP private payrolls rose 235,000 in Dec (survey +150,000) Jobless claims fell 19,000 last week. The Dow Jones index fell 340 points or 1% The S&P 500 index fell 1.2% The Nasdaq index lost 154 points or 1.5%. Originally published by CommSec
Gold futures fall
The gold futures price fell by US$18.40 or 1.0% to US$1,840.60 an ounce. Spot gold was trading near US$1,833 an ounce at the US close. Iron ore futures fell by US38 cents a tonne or 0.3% to US$114.97 a tonne. Originally published by CommSec
Evening markets report 5 January 2023
The Aussie market finished on a flat note, with the #ASX200 up by a modest 4.4pts or 0.06% to 7063.6 – its 2nd straight day of gains. Bank and Mining stocks rose by ~0.3-0.4%, while Tech & Energy fell by more than 1%. Real Estate finished flat. Originally published by CommSec
ASIC issues infringement notices to energy company for greenwashing
ASIC has taken action for greenwashing against listed energy company Black Mountain Energy Limited (BME). BME has paid $39,960 to comply with three infringement notices issued by ASIC in relation to concerns about alleged false or misleading sustainability-related statements made to the Australian Securities Exchange (ASX) between 23 December 2021 and 8 September 2022. ASIC…
