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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

7 Feb 2020 (AFR) – ASX posts best day for almost a month

(7 February 2020, AFR, p30, Sarah Turner, Reporter) ‘Australian shares rose sharply on Thursday, boosted by a solid performance in the banking sector as well as some strong earnings-related gains, as worries that the coronavirus will dampen global economic growth abated. The S&P/ASX 200 index advanced 1.1 per cent, or 73.15 points, to 7049.19. That … 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: China stocks fall 8pc as markets reopen on virus fears

(4 February 2020, AFR, p1, Michael Smith and William McInnes) ‘Shanghai/Sydney | Chinese stocks had their biggest fall in four years on Monday when markets reopened for the first time since the deadly coronavirus spread throughout the country as fears grew about the long-term damage the outbreak will have on the world’s second-largest economy. A … Continue reading

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

3 Feb 2020 (AFR) – China braces for economic shock as coronavirus death toll passes 300

(3 February 2020, AFR, p11, Michael Smith, China Correspondent) ‘Shanghai |  China’s central bank at the weekend announced a raft of stimulus measures aimed at cushioning the world’s second-largest economy from the coronavirus, which has forced the country to shut down its main manufacturing hubs and much of its business for at least three weeks. … Continue reading

29 Jan 2020 (AFR) – Coronavirus and ASX: ASX endures worst day of 2020 as virus concerns deepen

(29 January 2020, AFR, p26, Luke Housego, Reporter) ‘Australian shares tumbled to their biggest loss of 2020 as concerns about the fallout on global growth from China’s coronavirus outbreak sparked a rout of world stockmarkets. The S&P/ASX 200 Index fell 96 points, or 1.4 per cent, to 6994.5 points, making it the biggest one-day fall … Continue reading

29 Jan 2020 (AFR) – Markets exposed to China shock. Fears intensify amid global sell-off

(29 January 2020, AFR, p1, Vesna Poljak, James Fernyhough and Sarah Turner) ‘Australia’s close business links to China, which proved so successful in supporting the economy in its record-breaking run of growth, have emerged as a major risk to growth and earnings as the coronavirus outbreak gathers pace. The worst day of the year for … Continue reading

23 Jan 2020 (TheAge) – Full steam ahead as ASX smashes new records

(23 January 2020, The Age, Business, p24, By Lucy Battersby) ‘Australia’s stock market chalked up a surprisingly strong session on Wednesday with more than a tenth of the S&P/ASX200 reaching record high prices. The index closed nearly 1 per cent higher at 7132.7 points. News that German retail giant Kaufland is pulling out of Australia … 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

20 Jan 2020 (AFR) – ASX’s record run raises the stakes

(20 January 2020, AFR, p24, Vesna Poljak, Markets Editor) ‘The sharemarket’s record-breaking rally will continue enthusiastically without regard for the bushfire-worsened confession season underway, setting up a difficult test for valuations with the interim company profit season around the corner. <snipped…> ‘Wall Street sealed its best week since August as upbeat housing data sweetened the … Continue reading

10 Jan 2020 (TheAge) – ASX: Healthcare, tech push ASX to record closing high

(10 January 2020, The Age, Business, p24, By David Scutt) ‘Australian shares rose strongly on Thursday, ending the session at a record closing high after coming within a whisker of tapping new intraday highs, as investors welcomed a de-escalation in tensions between the United States and Iran. The benchmark S&P/ASX 200 rose 56.6 points, or … 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

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

3 Jan 2020 (AFR) – ASX: Short sellers keep faith after tough year

(3 January 2020, AFR, p15, Chanticleer) ‘The short sellers of the ASX might be coming off a desperately difficult year, but they’re certainly not ready to back down. That’s the message from fascinating data analysed by veteran Bell Potter broker Richard Coppleson, which shows that of the top 25 short positions on the ASX on … Continue reading

1 Jan 2020 (TheAge) – ASX sheds $40b in year-ending slump

(1 January 2020, The Age, Business, p24, By Derek Rose) ‘The Australian share market has finished 2019 with a sharp loss that wiped out $40 billion in value as traders took some of the year’s phenomenal profits off the table. The benchmark S&P/ASX200 index closed Tuesday’s abbreviated New Year’s Eve session down 120.8 points, or … 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

7 Dec 2019 (AFR) – The missing ingredient in the market’s bull run

(7 December 2019, AFR, p28, Sarah Turner, Reporter) ‘Investors are fixated on low interest rates but some fund managers are worried that weak profits could turn out to be the market’s Achilles heel – earnings have been missing in action as the benchmark hovers near record highs. Blue chips such as Woolworths, Wesfarmers and Commonwealth … 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

4 Dec 2109 (AFR) – Trade setback means ASX’s record only a distant memory

(4 December 2019, AFR, p1, Vesna Poljak, Luke Housego and Sarah Turner) ‘The S&P/ASX 200 Index is in no rush to 7000 as Tuesday’s wipeout clipped 2.2 per cent off shares and once again tariffs were the trigger.The outbreak of a new trade battle waged by the United States against bulk commodity exporters Brazil and … Continue reading

4 Dec 2019 (AFR) – Signs to watch for an imminent correction

(4 December 2019, AFR, p26,  Michael McCarthy, Contributor) ‘Active investors could do well to doubt the extremes of sentiment – a practice which is is powerful under current market conditions. ‘ <snipped…> ‘The good news for those who refuse to look at the fuzzier predictive tools is that there are numbers to back up the … Continue reading

4 Dec 2019 (AFR) – ASX a sea of red as US widens trade war

(4 December 2019, AFR, p24, William McInnes, Reporter) ‘ The slide was sparked as the US imposed surprise tariffs on Brazil and Argentina, and threatened more on France.A dramatic and surprising expansion of the US’s trade war wiped $45 billion from the local sharemarket on Tuesday, with the hawkish tone from the Reserve Bank of … 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

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

13 Nov 2019 (AFR) – ASX could struggle if global benchmark roars

(13 November 2019, AFR, p33, Vesna Poljak and Sarah Turner) ‘A tilt towards value and cyclical stocks, underpinning an embryonic global market rally, will probably mean the Australian benchmark underperforms any recovery in world equities, for the same reason that it has outperformed for most of 2019. A bottoming-out of leading indicators suggest a stabilisation … 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

17 Oct 2019 (AFR) – Why the stock market is up, but everyone is down

(17 October 2019, AFR, p24,  Jonathan Shapiro, Senior Reporter) ‘The share market may be at or around all-time highs. Yet brokers and fund managers aren’t exactly revelling in the excess and enthusiasm one might expect after a decade-long bull market. Why is that so? Why is the share market no longer an indicator of welfare … Continue reading

4 Oct 2019 (TheAge) – ASX: ‘Heaven help us’: Fears of further volatility after ASX pummelled again

(4 October 2019, The Age, Business, p20, By David Scutt) ‘Global growth fears, trade tensions between the United States and European Union and stretched valuations combined to send Australian shares tumbling for a second consecutive session on Thursday, wiping more than $40 billion in value from the nation’s top companies. The S&P/ASX tumbled 2.2 per … Continue reading

4 Oct 2019 (TheAge) – Now Trump wants a tit-for-tat stoush with Europe, no wonder markets are fearful

(4 October 2019, The Age, Business, p21, Stephen Bartholomeusz) ‘Last year the US sharemarket imploded in the final quarter, primarily because the Federal Reserve was foreshadowing a series of interest rate hikes, but also because of the then-developing trade conflict with China. It’s happening again but this time the sell-off – the US sharemarket has … Continue reading