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28 March 2020 (AFR) – Big Rally crumbles after $US2trn stimulus optimism fades

(28 March 2020, AFR, p24, Sarah Turner, Reporter) ‘Australia’s sharemarket ended a week of massive gains with a loss on Friday as the number of virus cases in the US surpassed those in China, and it became increasingly clear that the pandemic’s deadly toll will not be slowed by the monster US stimulus package. ‘Investors … Continue reading

15 Feb 2020 (AFR) – Coronavirus fallout rattles investors as China industry stops

(15 February 2020, AFR, p23, Simon Evans, Sue Mitchell, Liam Walsh, Jenny Wiggins, Yolanda Redrup and Nick Lenaghan) ‘Investors are rattled as the coronavirus outbreak keeps escalating. China represents 17 per cent of the global economy and a sudden partial freeze of its vast industrial base means testing times for Australia, one of its biggest … Continue reading

15 Feb 2020 (AFR) – Coronavirus death toll jumps again, shattering Chinese confidence

(15 February 2020, AFR, p12, Michael Smith, China Correspondent) ‘Shanghai | China reported another 121 deaths and more than 5000 new cases from the coronavirus outbreak on Friday as cities around the country tightened travel restrictions and ordered millions to stay at home, crushing confidence that the government has the health crisis under control. Japan … Continue reading

15 Feb 2020 (AFR) – Coronavirus: Cruise industry feels the pinch

(15 February 2020, AFR, p11, Fiona Carruthers, AFR Travel Editor) ‘As the $45 billion global cruise industry continues to feel the shocks of coronavirus (COVID-19), closer to home, luxury Sydney travel agency Mary Rossi Travel spent the past week rewriting newsletters and itineraries,  deftly tweaking their promoted destinations. “Australians are definitely still travelling – they’re … Continue reading

15 Feb 2020 (AFR) – Top universities warn of $1b coronavirus hit

(15 February 2020, AFR, p11, Phillip Coorey, Political Editor) ‘Top universities have warned the federal government the coronavirus travel ban would cost the economy more than $1 billion, and put at risk 7500 jobs, for each 10 per cent decline in Chinese students. The figures are contained in economic modelling commissioned by the Group of … Continue reading

15 Feb 2020 (AFR) – Billions at stake as coronavirus sparks commodity crisis

(15 February 2020, AFR, p10, Patrick Durkin, BOSS Deputy Editor) ‘Billions in LNG, coal and iron ore contracts with China are at risk of being re-negotiated in the wake of the coronavirus, lawyers warn as they face off over “force majeure” claims. The escalating legal drama comes as major companies including Rio Tinto, Blackmores, Cochlear … Continue reading

12 Feb 2020 (TheAge) – Second wave of the coronavirus crisis hits corporate Australia

(12 February 2020, The Age, Business. p23, Elizabeth Knight) ‘Tuesday’s profit downgrade by Cochlear represents the second-wave impact for Australian companies in response to the coronavirus crisis. There will doubtless be more before this episode turns the corner. The first wave, which became evident in January, hit Australian companies directly exposed to China in the … Continue reading

12 Feb 2020 (TheAge) – Coronavirus: Cochlear warns of $30 million coronavirus profit hit

(12 February 2020, The Age, Business, P23, By Patrick Hatch) ‘Hearing device manufacturer Cochlear is the latest major Australian company to be affected by the deadly coronavirus with the implant group taking a $30 million profit hit as surgeries are delayed across China.’ Read more at TheAge.com.au

12 Feb 2020 (AFR) – Coronavirus: Settlement delays expected as travel ban bites

(12 February 2020, AFR, p36, Nila Sweeney, Reporter) ‘Selling agents are bracing for settlement delays on residential properties, with mainland Chinese buyers blocked from travelling into the country as part of the government’s response to the coronavirus threat. Melbourne-based selling agent Jamie Mi of Kay and Burton, who specialises in overseas Chinese buyers, said while … Continue reading

12 Feb 2020 (AFR) – Builders warn of coronavirus hit to key material supplies

(12 February 2020, AFR, p35, Michael Bleby, Senior Reporter) ‘Concerns about the supply of key building supplies such as curtain wall from China’s coronavirus-hit manufacturing industry are growing among builders in NSW, who warned clients of potential disruptions to their high-rise projects. News of the concerns about curtain wall – the plate glass windows and … Continue reading

12 Feb 2020 (AFR) – Coronavirus: CEOs warn virus hit will get worse

(12 February 2020, AFR, p3, John Kehoe, Senior Writer) ‘The economic toll is mounting from the coronavirus, after hearing implant maker Cochlear cut its profit outlook due to Chinese hospitals deferring surgeries and beef exporters joined the seafood industry in bracing for weaker Chinese demand. The Morrison government is poised to extend the initial two-week … Continue reading

12 Feb 2020 (The Age) – ASX reaches three-week high as risk appetite rises

[COMMENT: Isn’t it so interesting? The sorts of things that make newspaper headlines, and which in reality are not quite so. For the life of me I cannot see how the local market has made a three-week high. With reference to my chart, I can see a new intraday high for the last 2 weeks. … Continue reading

12 Feb 2020 (TheAge) – Disconnected: Why markets are booming while the world reels from the coronavirus outbreak

(12 February 2020, The Age, Business, p23, Stephen Bartholomeusz) ‘The US stockmarket hit yet another record overnight and other major markets, including the Australian exchange, are within sight of their own high points. The world must be in good shape, right? With the death toll from the coronavirus now surpassing that of the SARS epidemic … Continue reading

11 Feb 2020 (AFR,Bloomberg) – Virus Scare Empties Malls on World’s Priciest Shopping Strip

(11 February 2020, AFR, p35, Bloomberg, By Shawna Kwan) ‘In an almost deserted mall, the few shoppers hurry past wearing face masks. In the luxury stores, sales assistants, also in masks, outnumber customers — if they have any at all. To pass the time, staff chat with each other or play with their phones. This … Continue reading

11 Feb 2020 (AFR) – Construction supply chains at risk from coronavirus

(11 February 2020, AFR, p29, Michael Bleby, Senior Reporter) ‘The impact of coronavirus is spreading to global supply chains, with building contractors warning clients of potential delays on projects because factories have closed in China – the source of many building materials used in Australian projects – as a result of the respiratory disease. The … Continue reading

11 Feb 2020 (AFR) – Coronavirus: China’s factory prices break deflation spell, but virus risks grow

(11 February 2020, AFR, p9, Se Young Lee and Stella Qiu) ‘Beijing | China’s factory-gate prices snapped six months of year-on-year declines in January, although prolonged business closures from the coronavirus outbreak mean positive momentum is unlikely to persist. The virus has killed more than 900 in China and has also added to price pressures … Continue reading

11 Feb 2020 (AFR) – Coronavirus: Virus death toll above 900 as workers told to stay home

(11 February 2020, AFR, p9, Michael Smith, China Correspondent) ‘Hong Kong | The death toll from China’s coronavirus outbreak has risen to more than 900, as plans to restart the world’s second-largest economy on Monday faltered. Despite hopes of a return to work, hundreds of millions were forced to stay home due to strict government … Continue reading

11 Feb 2020 (TheAge) – Chilling effect of the coronavirus is turning up in the shipping news

(11 February 2020, The Age, Business, p24, Stephen Bartholomeusz) ‘If you want to track the damage being done to global economic activity and growth by the coronavirus, just keep an eye on commodity prices and declarations of force majeure by Chinese companies. Both are showing increasing signs of the stress. With one of China’s major … Continue reading

10 Feb 2020 (AFR) – Strong US jobs number overshadowed by coronavirus fears

(10 February 2020, AFR, p20, William McInnes, Reporter) ‘Markets in the US shrugged off a stellar jobs number on Friday, amid continuing concerns about the global economic cost of the coronavirus outbreak.  On Friday, the S&P 500 Index fell 18.1 points, or 0.5 per cent, to 3327.71 while the yield on the US 10-year Treasury … Continue reading

10 Feb 2020 (AFR) – Investors to focus on earnings as coronavirus fears ease

(10 February 2020, AFR, p20, William McInnes, Reporter) ‘Australian investors are set to look past the coronavirus fears this week with a bumper week of earnings set to get under way on Monday. Companies worth a combined $713 billion will unveil their earnings this week with the market keen to see how several fared through … Continue reading

7 Feb 2020 (AFR) – Reports China considering congress delay as virus toll spikes

(7 February 2020, AFR, p15, Michael Smith, China Correspondent) ‘Shanghai | Beijing was reported to be looking at delaying the annual meeting of its top legislative body as it extended school shutdowns due to the deadly coronavirus and considered whether hundreds of millions of people would be allowed back to work next week. China recorded … Continue reading

7 Feb 2020 (AFR) – Economy had more momentum – Economists see end of RBA’s rate cut cycle

(7 February 2020, AFR, p1, Matthew Cranston, Sarah Turner and Sue Mitchell) ‘Surprising strong consumer spending in the final three months of 2019 has triggered investors to upgrade retail stocks and abandon calls for another interest rate cut this year. The stronger than expected growth in retail trade in the December quarter supports Reserve Bank … Continue reading

7 Feb 2020 (TheAge,Telegraph) – Coronavirus grips global economy – The Black Swan that might finally sink the markets

(7 February 2020, The Age, Business, p29, Ambrose Evans-Pritchard) ‘The workshop of the world is closed. China is on a total-war footing. The Communist Party has evoked the “spirit of 1937” and mobilised all the instruments of its totalitarian surveillance system to fight both coronavirus, and the truth. Make GDP forecasts if you dare. As of … Continue reading

7 Feb 2020 (TheAge) – Government prepares for virus economic downturn as fires hit retailers

(7 February 2020, The Age, p8, By Shane Wright) ‘The Morrison government is preparing Australians for a large hit to the economy and the budget bottom line from the coronavirus outbreak and the summer’s bushfires amid growing concern the financial hit from both will be larger than first thought. As December retail figures showed the … Continue reading

6 Feb 2020 (AFR) – Coronavirus: China tightens controls as virus death toll hits 492

(6 February 2020, AFR, p10, Michael Smith and Bo Seo) ‘Shanghai|Sydney | The number of people infected with the coronavirus is expected to keep rising for months as Beijing steps up measures to quarantine millions of people and one of China’s top scientists warned there was no sign of a turning point. Scientists said Thursday … Continue reading

6 Feb 2020 (AFR) – New vehicle sales drop 12.5pc in January

(6 February 2020, AFR, p8, Simon Evans, Senior Reporter) ‘Australia’s new vehicle sales plunged 12.5 per cent in January as already-low levels of confidence among potential car buyers were buffeted by the fallout from bushfires, drought and the early stages of international concerns over the coronavirus outbreak. Victoria suffered one of the biggest drops as … Continue reading

5 Feb 2020 (TheAge) – Coronavirus could cause collapse of world’s supply chains

(5 February 2020, The Age, Business, p23, Stephen Bartholomeusz) ‘The great unknowable about the impact of the coronavirus for businesses, investors and economic policymakers is just how much damage it will inflict on the global economy. That’s why the markets are gyrating, with the US stockmarket tumbling on Friday and then recovering half those losses … Continue reading

5 Feb 2020 (AFR) – Crude shock as oil tumbles on coronavirus hit

(5 February 2020, AFR, p24, Tom Richardson, Markets reporter and commentator) ‘The coronavirus has one more victim with benchmark oil prices tumbling 18 per cent over 2020 to below $US50 a barrel on Tuesday as traders worry a slowdown in China will shatter demand. The uncertainty over the virus’s ongoing impact has now sent prices … Continue reading

4 Feb 2020 (AFR) – Coronavirus: China sell-off reflects growth fears

(4 February 2020, AFR, p27, Robert Guy, Senior Writer) ‘Prognosis: negative. That was the swift – yet unsurprising – conclusion delivered by investors as the re-opening of China’s financial markets was greeted with a 8 per cent slide in the CSI 300 Index – which includes Shanghai and Shenzhen stocks – and the Chinese yuan … Continue reading

4 Feb 2020 (AFR) – Coronavirus: Fearing virus, Hong Kong residents stock up on food, essentials

(4 February 2020, AFR, p11, Farah Master) ‘Hong Kong | Panic-stricken residents have emptied shelves in major supermarkets in Hong Kong, stockpiling meat, rice, cleaning products and soap as fears escalate over a coronavirus epidemic on the mainland. The rush to procure food in the city of 7.4 million people is unprecedented, residents say, describing … Continue reading