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ASX performance

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4 Feb 2020 (TheAge) – ASX: Local stocks slide as China’s markets plunge 9pc on return to trade

(4 February 2020, The Age, Business, p29, By Lucy Battersby and David Scutt) ‘Australia’s sharemarket declined 1.3 per cent on Monday, after China’s stock market plunged when it returned from a ten-day trading holiday. The Shanghai Composite 300 index opened for the first time since the Lunar New Year holiday started on January 23 and … Continue reading

21 Jan 2020 (AFR) – ASX hits new record high despite profit downgrades

(21 January 2020, AFR, p26, Sarah Turner, Reporter) ‘Australian shares rallied again on Monday to seal the market’s fifth straight day of gains, with CSL and the miners carrying the benchmark to a new historic high and helping the market shrug off a raft of profit downgrades.’ Read more at AFR.com (might need AFR login … Continue reading

17 Jan 2020 (AFR) – The missing ingredient in the ASX rally, where quality doesn’t come cheap

(17 January 2020, AFR, p27, Robert Guy, Senior Writer) ‘The 1000 point rally in Australian stocks over the past 11 months testifies to the power of multiple expansion to gloss over anemic earnings growth, as low yields unite investors in the belief in TINA – There Is No Alternative.’ <snipped…> ‘But the missing ingredient in … Continue reading

15 Jan 2020 (AFR) – Investors push ASX to another record

[COMMENT: In case any readers are a little puzzled, the All Ordinaries (XAO) index broke through the 7000 level last week, while this index, the XJO, is at a lower level and still heading there.] (15 January 2020, AFR, p26, Luke Housego, Reporter) ‘The Australian sharemarket surpassed last week’s record to close at fresh highs … Continue reading

11 Jan 2020 (AFR) – ASX hits fresh record as outlook brightens

(11 January 2020, AFR, p27, Luke Housego, Reporter) ‘Australian shares ended the year’s first full week of trading at record highs, with the All Ordinaries breaking through 7000 points for the first time as upbeat retail sales data and the imminent signing of a landmark US-China trade deal boosted confidence about a recovery in growth. … Continue reading

10 Jan 2020 (AFR) – It was a stellar decade for stocks, despite the headlines

(10 January 2020, AFR, p27, Jonathan Shapiro, Senior Reporter) ‘The decade is over, and counter to all the headlines, it’s been one of the best ever for the stockmarket. But it sure didn’t feel so great. For ten years, equities scaled a wall of worry. The hangover from the sub-prime catastrophe, a European debt crisis, … Continue reading

10 Jan 2020 (AFR) – ASX shrugs off Middle East worries to print record high

(10 January 2020, AFR, p26, Tom Richardson Markets reporter and commentator) ‘The S&P/ASX 200 closed up 0.8 per cent, or 57 points, to a record closing high of 6874 points amid broad-based gains as investors brushed off concerns over a conflict between the US and Iran. The record close beats the previous 6863.99 high set … Continue reading

10 Jan 2020 (AFR) – Cooling of US-Iran conflict pushes ASX to record

(10 January 2020, AFR, p1, Tom Richardson and Vesna Poljak) ‘Australian shares reclaimed their record high after Donald Trump declared that the US and Iran are not going to war, averting an outright conflict in the Middle East and promising peace “with all who seek it”. Investors responded optimistically to the cooling of the threat … Continue reading

9 Jan 2020 (AFR) – ASX drops as Iranian strike hits market nerves

(9 January 2020, AFR, p26, Luke Housego, Reporter) ‘Australian shares closed marginally lower on Wednesday, with the attention of markets again concentrated on the Middle East and a retaliatory strike by Iran. The benchmark S&P/ASX 200 closed 8.8 points, or 0.13 per cent, lower at 6817.6 points. News that Iran fired missiles into an Iraqi … Continue reading

4 Jan 2020 (AFR) – ASX makes positive start to 2020

(4 January 2020, AFR, p27, William McInnes, Reporter) ‘Australian shares have soared in the first two days of trading for the new year, buoyed by a new round of stimulus from the Chinese government and a set date for the signing of a ‘phase one’ US-China trade deal. The strong start to the year’s trading … Continue reading

27 Dec 2019 (AFR) – ASX: Miners lead the ASX to post-holiday gains

(27 December 2019, AFR, online, Sarah Turner, Reporter) ‘The mining sector led the Australian market to modest gains at the end of a holiday-shortened week, with investors hopeful for a pick up in global growth as trade tensions settle down. The S&P/ASX 200 index closed 27 points, or 0.4 per cent, higher at 6821.70. The … Continue reading

26 Dec 2019 (TheAge) – ASX delivers modest gains ahead of Christmas

(26 December 2019, The Age, Business, p26, By David Scutt) ‘Australian shares drifted higher in quiet, pre-Christmas trade on Tuesday, snapping a three-day losing streak in the process. The benchmark S&P/ASX 200 finished up 9.1 points, or 0.1 per cent, at 6794.2, helped by a late flurry of buying towards the close.’ Read more at … Continue reading

21 Dec 2019 (AFR) – ASX ends week higher on trade deal

(21 December 2019, AFR, p50, William McInnes, Reporter) ‘The agreement of a ‘phase one’ trade deal between the US and China pushed Australian shares higher this week, despite losses from the major banks amid a flurry of legal action. While trading in the latter half of the week was relatively muted, the market’s sharp reaction to … Continue reading

18 Dec 2019 (TheAge) – ASX: Markets get some relief, but dangerous times lie ahead

(18 December 2019, The Age, Business, p23, Stephen Bartholomeusz) ‘There were huge sighs of relief in global financial markets on Monday as the “Phase One” trade deal between the US and China and the outcome of the British election took the worst-case outcomes for investors off the table. It didn’t hurt that there was good … Continue reading

17 Dec 2019 (TheAge) – ASX books best session in seven months with $33 billion surge

(17 December 2019, The Age, Business, p29, By Lucy Battersby) ‘The market value of Australia’s top 200 companies increased by nearly $33 billion on Monday as the local bourse notched up its biggest one-day gains since May.  The shopping spree was driven by strong demand for blue-chip stocks and news of a good outcome in … Continue reading

17 Dec 2019 (AFR) – ASX: Market roars on US-China trade truce

(17 December 2019, AFR, p1, William McInnes, Reporter) ‘Australian shares soared close to a record high on Monday, adding more than $33 billion to the local bourse after the US and China reached a long-awaited phase one trade agreement and bond investors responded coolly to the Treasurer’s budget update. The benchmark S&P/ASX 200 Index advanced … Continue reading

7 Dec 2019 (AFR) – ASX ends week lower as volatile days lie ahead

(7 December 2019, AFR, p33, Luke Housego, Reporter) ‘Australian shares ended the week lower as the local market was weighed down by concerns about a weak domestic economy and escalating trade tensions. The S&P/ASX 200 index fell 2 per cent to 6707 during the week. It rose 0.36 per cent, or 24 points, on Friday. … Continue reading

5 Dec 2019 (TheAge) – ASX in brutal selloff as trade fears ignite again

(5 December 2019, The Age, p29, By David Scutt) ‘Concerns that a trade deal between the United States and China may not be reached until after next year’s US election rattled Australian shares on Wednesday, seeing the benchmark S&P/ASX 200 Index post its largest two-day percentage slide since early August.’ Read more at TheAge.com.au

5 Dec 2019 (AFR) – ASX: Trump trade threats hit ASX hard

(5 December 2019, AFR, p26, William McInnes, Reporter) ‘Australian shares were hit for a second session in a row on Wednesday, as investors were once again spooked by comments from the Trump administration on trade. The S&P/ASX 200 Index dropped 105.8 points, or 1.6 per cent, to 6606.5. A combined $76.8 billion was wiped off … Continue reading

5 Dec 2019 (AFR) – Consumer drought adds to trade gloom for shares

(5 December 2019, AFR, p13, Vesna Poljak, Markets Editor) ‘The Australian sharemarket’s brutal sell-off just three sessions after reclaiming its record high punctuated a bad week for the economy, as evidence that consumer spending ground almost to a standstill last quarter posed critical questions about earnings growth. Stocks dropped 1.4 per cent on Wednesday after … Continue reading

30 Nov 2019 (AFR) – ASX ends ‘wild’ month with solid gain

(30 November 2019, AFR, p33, Sarah Turner, Reporter) ‘Australian shares ended a turbulent November with a solid gain, as turmoil in the banking sector offset strong performances from blue chip supermarkets, Telstra and CSL. The S&P/ASX 200 index declined 18 points, or 0.3 per cent, to 6846.00 on Friday, failing to extend this week’s record-breaking … Continue reading

28 Nov 2019 (AFR) – Low rates, deal ‘mojo’ push ASX to record high

(28 November 2019, AFR, p1,13, Sarah Turner, Reporter) ‘Australian shares roared to a record high as a wave of dealmaking and recalibrated expectations for even lower interest rates spurred investors into equities and pushed shares of blue chips CSL and Woolworths to all-time highs. The S&P/ASX 200 Index finished the session 63.1 points, or 0.93 … Continue reading

22 Nov 2019 (AFR) – ASX wipes $41b in two days amid trade turmoil

(22 November 2019, AFR, p30, William McInnes, Reporter) ‘Australian shares tumbled for a second day running on Thursday, as concerns over the future of a potential US-China trade deal reverberated around global markets. The S&P/ASX 200 Index fell 49.5 points, or 0.7 per cent, to 6672.9, with $41 billion wiped from the bourse in the … Continue reading

21 Nov 2019 (AFR) – ASX dives on Westpac, US-China tensions

(21 November 2019, AFR, p28,William McInnes, Reporter) ‘The financial crimes regulator alleged of the bank there were more than 23 million contraventions of the law, related to money coming in and out of Australia from Europe and Asia. Australian shares posted their biggest fall in six weeks as a potential US-China trade deal was thrown … Continue reading

18 Nov 2019 (AFR) – Blue chips carry market to record-breaking territory

(18 November 2019, AFR, p24, Vesna Poljak, Markets Editor) ‘Australian shares are on the cusp of breaking records this week as the benchmark index inches closer to July’s high, and a mix of market updates and profits from Goodman Group to Aristocrat underscores interest in roaring blue chip stocks. Wall Street continues to smash records, … Continue reading

16 Nov 2019 (AFR) – ASX’s blue chips shatter records as trade deal nears

(16 November 2019, AFR, p1, Vesna Poljak and Bo Seo) ‘Australia’s blue chip share prices have shrugged off this week’s soft job numbers to hit new highs as global financial markets continue to rally around hopes of a trade deal with the US and China. Investors seized on comment by Larry Kudlow, US President Donald … Continue reading

14 Nov 2019 (AFR) – Bingo soars as US-China trade jitters hit

(14 November 2019, AFR, p30, Luke Housego and Sarah Turner) ‘Australian shares closed lower on Wednesday for a second consecutive day, with investors increasingly anxious about the prospects of a trade deal between the US and China, although Bingo Industries soared. The S&P/ASX 200 index closed 54.67 points, or 0.8 per cent, lower at 6698.30, … Continue reading

12 Nov 2019 (TheAge) – ASX: CSL surge helps drive ASX to 3-month high

(12 November 2019, The Age, Business, p29, By Lucy Battersby and David Scutt) ‘Australia’s sharemarket enjoyed a strong session on Monday, closing the day at its highest level in three months. The S&P/ASX 200 now sits just 73 points below its all-time closing high of 6845 points, which it tapped on July 30. Monday’s bullish … Continue reading

9 Nov 2019 (AFR) – ASX weekly wrap: ASX firms as potential trade deal draws closer

(9 November 2019, AFR, p33, William McInnes, Reporter) ‘The Australian sharemarket closed the week higher on Friday, edging closer to a fresh record, as hopes for a potential trade deal soothed investors’ fears. The S&P/ASX 200 Index closed the week 55 points, or 0.8 per cent, higher at 6724.1, just 121 points shy of its … Continue reading

8 Nov 2019 (AFR) – ASX rallies on sharp reversal of bank sell-off

(8 November 2019, AFR, p34, Luke Housego, Reporter) ‘Australian shares rallied on Thursday after a day of significant announcements that saw the banks and some tech companies post gains that gave the local market a notable boost. The S&P/ASX 200 Index advanced 66.4 points, or 1 per cent, to 6726.6, after National Australia Bank surprised … Continue reading