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Crash

This tag is associated with 35 posts

1 Mar 2017 (TheAge) – Watersun Homes goes into administration

(1 March 2017, The Age, BusinessDay, p27, Simon Johanson, Emma D’Agostino) ‘A home building company that at one stage sponsored the St Kilda Football team, Watersun Homes, has gone into administration with the loss of 90 jobs. The residential builder was working on about 300 homes in metro Melbourne and regional Victoria when it was … Continue reading

1 Sept 2016 (TheAge,SMH) – What goes up… UBS tips 20 percent global fall; The chance of a sharemarket crash is rising. What should you do about it?

(1 September 2016, The Age, BusinessDay, p25, Patrick Commins) ‘Global sharemarkets have been floating higher for some time – what would bring them back to earth? Professional investors and strategists remain mostly unconvinced that the lofty price tags attached to many of the world’s bourses are justified. Share prices have become largely unmoored from corporate earnings … Continue reading

14 Apr 2016 (AFR) – Inner city Sydney apartments fall by up to 19 per cent, JLL report shows

(14 April 2016, AFR, p3, by Su-Lin Tan) ‘Sydney inner-city apartment prices are starting to mirror price falls in central Melbourne, by falling as much as 19 per cent in the last three months of 2015 in some areas, a report by global real estate group JLL has shown. Suburbs up to 10 kilometres from the … Continue reading

11 Mar 2016 (AFR) – BIS Shrapnel tips ‘very messy end’ to the apartment boom

(11 March 2016, AFR, p2, by Robert Harley) ‘Australia’s apartment boom is reaching its crescendo and all cities, except Sydney, will be in housing oversupply by 2017, forecaster BIS-Shrapnel has warned. “In Melbourne the oversupply will be significant, in Brisbane it will be worse. It is an accident waiting to happen,” said BIS-Shrapnel managing director Robert Mellor at the … Continue reading

1 Oct 2015 (AFR) – Witching hour approaches – Bad month makes it a lost decade for ASX

(1 October 2015, AFR, p38, by Philip Baker) ‘It’s volatile all right. And any investor thinking the start of a new month will bring some much-needed calm should remember that Thursday is the first day of October, often called the “witching month” for the sharemarket. The 1929 and 1987 sharemarket crash occurred in October, as … Continue reading

25 Aug 2015 (AFR) – China sharemarket carnage as index falls 8.5pc – drops through government’s ‘bottom line’

(25 August 2015, AFR, p12, by  Angus Grigg ,  Lisa Murray ) ​’Growing concern about China’s slowing economy and a confusing policy response from the government triggered a dramatic equities sell-off on Monday, which quickly spread to other Asian markets. The benchmark Shanghai share index plunged 8.5 per cent, wiping out its entire gains for … Continue reading

25 Aug 2015 (TheAge) – ASX: Chinese concern turns to panic and sparks region rout

(25 August 2015, The Age, BusinessDay, p21, Philip Wen and Stephen Cauchi) ‘BEIJING – Deepening concerns over the health of the Chinese economy wreaked havoc on the country’s sharemarkets on Monday, leading a deep sell-off throughout the region and heaping pressure on leaders in Beijing. Swiftly dubbed “Black Monday” by the nation’s official state media, the … Continue reading

8 July 2015 (AFR) – Chinese sharemarket rout deepens raising doubts over tactics

(8 July 2015, The Age, BusinessDay, p24, Philip Wen, China correspondent for Fairfax Media, View more articles from Philip Wen) ‘Beijing – The extended rout on Chinese shares deepened on Tuesday despite Beijing’s aggressive rescue efforts, with the steep sell-off casting doubt over the central leadership’s economic reform credentials and its ability to prevent the … Continue reading

3 July 2015 (AFR) – Chinese market dives again as losses top $2.4tr since June 12

(3 July 2015, AFR, p14, by Kyoungwha Kim and Kana Nishizawa) ‘China’s Shanghai Composite Index fell below 4000 for the first time since April, as margin traders continued to unwind positions amid doubts over the effectiveness of government measures to support equities.’ Read more at AFR.com (might need AFR login access)

22 Apr 2015 (AFR) – Extraordinary world conditions could spark ‘abrupt’ sell-off – says RBA governor Glenn Stevens

(22 April 2015, AFR, p26, by Vesna Poljak ) ‘Reserve Bank of Australia governor Glenn Stevens has warned financial markets are at risk of a major shock linked to a capital flight from emerging markets that could take off just as assumptions about global liquidity are tested. The governor highlighted two potential scenarios that could combine to “heighten fragility” … Continue reading

11 Apr 2015 (AFR) – So expensive, a big fall may be looming – Likely sell-off looms as sharemarket reaches peak value

(11 April 2015, AFR, p41, by Philip Baker ) ‘Pass it off as an uneasy feeling of vertigo if you want, but it might be time for a big fall. The accompanying graph shows that since 1994 the local sharemarket has only looked this expensive on four other occasions, and on three of them it has … Continue reading

3 Mar 2015 (AFR) – Bears warn Baby Boomers bubble is about to burst (the boom is about to go bust)

(3 March 2015, AFR, p15, Bianca Hartge-Hazelman) ‘Asset bubbles in shares and property could burst in the next six to 18 months, according to one of the country’s more bearish investment experts, who is warning baby boomers that their retirement savings are at risk. Australian shares are only a whisker away, or another rate cut, … Continue reading

13 Jan 2015 (AFR) – Banks serving energy industry brace for a jolt as oil prices tumble

(13 Jan 2015, AFR, p21, Michael Corkery and Peter Eavis) ‘Tumbling oil prices are dimming one of the few big bright spots that banks have enjoyed since the global financial crisis. Banks have been lending hand over fist to companies in the nation’s energy industry, underwriting bonds, advising on ­mergers, even financing the building of homes … Continue reading

15 Dec 2014 (AFR) – Delusions behind oil price blind spot – Why the world missed the oil price crash

(15 Dec 2014, AFR, p30, Michael Levi) ‘On February 1, 2011, oil prices rose above $US100 a barrel. For the next three years, they largely stayed there. So when prices began falling in June, most industry experts shrugged. Hundred-dollar oil was here to stay, right? That attitude has made the vicious plunge in oil prices … Continue reading

12 Dec 2014 (TheAge) – The impact of cheaper oil sinks in for Australia

(12 Dec 2014, The Age, BusinessDay, p21, Elizabeth Knight) ‘The fall-out from the savaging of  oil prices saw Australian LNG majors, Santos and Origin, reassuring investors that financing and expenditure would be reconfigured and that the economics of their massive projects still worked. Their response was credible enough to convince the market  there was no … Continue reading

2 Dec 2014 (TheAge, SMH) – Oil fall fuels $53b market rout – Energy stock plunge creates headache for economy

(2 Dec 2014, The Age, BusinessDay, p19, Max Mason, Matt O’Sullivan and Vesna Poljak) ‘A rout in global oil prices has accelerated a big selloff in energy stocks and wiped $53 billion from the Australian sharemarket in just two trading days. The plunge in energy prices threatens to become a significant drag on Australia’s terms … Continue reading

29 Nov 2014 (AFR) – Energy stocks plunge on OPEC decision

(29 Nov 2014, AFR, p40, Yolanda Redrup) – Oil ‘Australian energy stocks were savaged on Friday, some falling more than 10 per cent, following the Organisation of Petroleum Exporting Countries’ decision not to cut oil production. The heavy losses were in line with analysts’ expectations. Credit Suisse oil and gas analyst Mark Samter said the situation … Continue reading

29 Nov 2014 (AFR) – Oil slumps as OPEC sits on its hands

(29 Nov 2014, AFR, p12, Stanley Reed) ‘The oil cartel OPEC has decided not to cut petroleum production, despite the plunge in prices in recent months that has indicated the diminishing clout of the organisation. On news of the decision by the Organisation of the Petroleum Exporting Countries on Thursday, the price of Brent crude oil, … Continue reading

29 Oct 2014 (AFR) – ASIC steps in as Vocation shares plunge 57 per cent

[COMMENT: Share market investors beware – some stocks can fall dramatically over night.] (29 Oct 2014, AFR, p13, Simon Evans) ‘The Australian Securities and Investments Commission is closely examining the conduct of training and education firm Vocation over the past two months while law firm Maurice Blackburn is eyeing a potential class action after a … Continue reading

7 Oct 2014 (TheAge) – Gold tumbles as US economy shows more signs of strength

(7 Oct 2014, The Age, BusinessDay, p23, Jared Lynch) ‘Gold mining stocks have been whacked after the precious metal fell below $US1200 for the first time this year. Strong US jobs data on Friday fuelled expectations that the US Federal Reserve will start hiking interest rates soon, sparking a 2 per cent slump in the … Continue reading

6 Oct 2014 (AFR) – RBA cools property market with gift of the gab

(6 Oct 2014, AFR, p3, Rebecca Thistleton) ‘Less strident’ RBA statement expected ‘The Reserve Bank of Australia’s jawboning has hit the housing market more than many realise, says property stalwart, Ray White chairman Brian White. Mr White, who has witnessed many booms, bubbles and busts in his 50-plus years with the family business, said the mood … Continue reading

9 Aug 2014 (AFR) – Perils of being caught up in property hype

(9 August 2014, AFR, p19, Duncan Hughes) ‘Rose Mathews, a 66-year-old pensioner, fears she will lose her home after being persuaded to buy an investment property after attending a “cultish” property seminar. Rose and her partner, Tony McNally, both 66, of Lisarow, on the NSW north coast, says the $320,000 apartment in Cairns has nearly … Continue reading

15 Jul 214 (AFR) – BIS chief fears fresh Lehman-style crisis

(15 July 2014, AFR, p13, Ambrose Evans-Pritchard, The Telegraph) ‘The world economy is just as vulnerable now to a financial crisis as it was in 2007 – with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements (BIS) … Continue reading

7 Jul 2014 (AFR) – Something’s gotta give: Han K. Lee tips shares to fall

(7 July 2014, AFR, p15, Sally Rose) ‘Veteran fund manager Han K. Lee says inflation is about to bite, leaving global sharemarkets set for the biggest tumble since the global financial crisis. Prime Value Asset Management, the firm Lee co-founded with chief ­executive Y. Yong Quek in 1998, is again encouraging shareholders to think about keeping more cash … Continue reading

1 Jul 2014 (AFR) – BIS warns of ‘debt trap’, says history may repeat – ‘Euphoric’ markets at risk of another crash

(1 July 2014, AFR, p29, Philip Baker) ‘Bankers have a habit of comforting themselves with facts and figures and coming up with a thousand reasons why there won’t be a repeat of all the mistakes that led to the financial crisis of 2008.’ <snipped…> ‘The BIS says financial markets are in a “euphoric’’ state and is … Continue reading

28 Jun 2014 (AFR) – Chinese property dream turns sour

(28 June 2014, AFR, p13, Lisa MurrayAFR correspondent) ‘It was a deal that turned out too good to be true. For a minimum outlay of 100,000 yuan ($17,000) lenders were promised interest rates of up to 30 per cent and assured they need only give a month’s notice to get their money back in full.’ ‘The … Continue reading

19 Jun 2014 (AFR) – China home prices tumble – China’s cities suffer most home price declines in two years

(19 June 2014, AFR, p14, Angus Grigg) ‘New home prices have fallen in the highest number of Chinese cities in more than two years due to corrupt officials rushing to sell apartments and over-building in regional areas. The National Bureau of Statistics said on Wednesday prices fell in half the 70 cities surveyed during May, … Continue reading

12 Apr 2014 (AFR) – Get ready for shares wipeout, says Swiss investor Marc Faber

[COMMENT: There are often purveyors of doom touting stories of the next big market crash. Sometimes they are worth listening to, and sometimes it is an interesting read. Not sure what to make of this one, so you can be the judge. Read on…] (12 April 2014, AFR, p40, Jared Lynch and Sophie Boyd) ‘Don’t … Continue reading

12 Apr 2014 (AFR) – Margin loans high evokes bad memories

[COMMENT: Can this be a reliable indicator of pending market moves?] (12 April 2014, AFR, p25, Philip Baker) ‘It’s not just the S&P 500 Index on Wall Street that has hit an all-time high. Investors are borrowing money at a record pace from their brokers so they can buy stocks. Also known as margin loans, … Continue reading

26 Mar 2014 (AFR) – Can China keep its property prices under control?

(26 March 2014, AFR, p52, Angus Grigg) ‘As fears mount of a [China] property crash, the government is trying to guide prices lower. But property isn’t the only sector tht could hold nasty surprises, with dirty dealing in the steel industry posing problems of its own…’ Read more at AFR.com (might need AFR login access)