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30 Aug 2019 (AFR) – Judge paves way for Trans-Tasman court over broker collapse

[COMMENT: What happens when our stock broker goes belly up?] (30 August 2019, AFR, p39, Michael Pelly, Legal Affairs Editor) ‘Federal Court judge Jacqueline Gleeson has paved the way for a historic joint sitting of New Zealand and Australian courts to handle the liquidation of a stockbroker. Justice Gleeson said the bid to sort through … Continue reading

27 Aug 2019 (AFR) – ASX loses $27b as trade war escalates

[COMMENT: Beware of scary headlines!! This often happens. Our share market loses billions of dollars of value in one day, and the daily news reports make it that it’s a really big deal. But take a look at my price chart herewith. The fall on Monday brought the market down but the index is still … Continue reading

10 Aug 2019 (AFR) – Trade war drags ASX to worst week in 9 months

(10 August 2019, AFR, p33, William McInnes, Reporter) ‘Australian shares were unable to recover from a heavy sell-off at the start of the week, as trade war concerns pushed the local sharemarket to its worst week in nine months. The S&P/ASX 200 Index fell 184.2 points, or 2.7 per cent, to 6584.4 this week while … Continue reading

7 Aug 2019 (TheAge) – WAAAX off: Tech wreck leads the market rout

(7 August 2019, The Age, Business, p23, By Colin Kruger) ‘Australia’s high flying tech stocks bore the brunt of Tuesday’s market rout, lead by global logistics tech group Wisetech. It was one of four of the so-called WAAAX stocks – the others being Appen, Altium and Xero, – which have collectively lost more than $4 … Continue reading

7 Aug 2019 (TheAge) – Global markets face ‘most dangerous financial moment’ since 2009

(7 August 2019, The Age, p1, By Shane Wright and Eryk Bagshaw) ‘The Reserve Bank has paved the way for even lower interest rates to drive down unemployment and protect Australia from an escalating United States-China trade war that has wiped more than $80 billion from the nation’s sharemarket. The ASX200 fell for the second … Continue reading

7 Aug 2019 (AFR) – Markets caught in trade war crossfire

(7 August 2019, AFR, p1, Robert Guy and William McInnes) ‘The Australian sharemarket plunged 2.5 per cent after the US escalated hostilities in its tit-for-tat trade war with China by labelling it a currency manipulator, pushing yields on Australian 10-year government bonds below 1 per cent for the first time. The Trump administration’s aggressive response … Continue reading

6 Aug 2019 (TheAge) – Worst day of the year for ASX as China’s currency play wipes $38bn from stocks

(6 August 2019, The Age, Business, p27, By William McInnes) ‘Tech stocks led a sharemarket slump on Monday, as the Chinese yuan dropped below a key level, sparking selling across Asian markets and pushing local shares to their worst session since December. Selling in growth stocks was heavy as investors looked to exit riskier stocks. … Continue reading

6 Aug 2019 (TheAge) – Australian economy’s biggest risk is now a reality as trade war deepens

(6 August 2019, The Age, p8, By Shane Wright and Lucy Battersby) ‘The Australian sharemarket shed more than $36 billion in value, the dollar was pushed to its lowest point in 10 years and expectations have increased of an interest rate cut over growing fears the US-China trade battle is now a full-blown currency war … Continue reading

5 Aug 2019 (AFR) – Wall Street stocks fall most since December, bonds gain

(5 August 2019, AFR, p21, Jonathan Shapiro) ‘Wall Street’s main sharemarket indices registered the largest weekly falls of the year while bond rates plunged the most in seven years, after a dramatic week of central bank disappointments, unexpected trade war tweets and solid jobs data. On Friday, July US non-farm payrolls showed a solid gain … Continue reading

3 Aug 2019 (AFR) – How to find the best returns in a low-rate world

(3 August 2019, AFR, p28, William McInnes, Reporter) ‘For 20 of the past 30 years of investing, there were some certainties. Investing in equities would give you a higher rate of return coupled with a higher risk premium, bonds were a steady and stable form of income, and cash, while delivering only low returns, came … Continue reading

1 Aug 2019 (TheAge) – Low interest rates drive sharemarket’s high July

(1 August 2019, The Age, Busienss, p27, By William McInnes) ‘A loss on Wednesday wasn’t enough to dampen a milestone month for Australian shares as sliding interest rate expectations and record low bond yields drove the market to a record high. The S&P/ASX 200 Index fell 32.5 points, or 0.5 per cent, to 6812.6 on … Continue reading

31 July 2019 (AFR) – The ASX’s long, long road to recovery

(31 July 2019, AFR, p27, William McInnes, Reporter) ‘It’s been a long road for the local sharemarket, but finally after 11½ years, it has delivered what some might have thought unthinkable just over a decade ago. On Friday March 6, 2009, the Australian sharemarket reached its lowest point since the global financial crisis struck. It … Continue reading

31 July 2019 (AFR) – Shares reclaim record high after 11-year wait – Profits season to test sharemarket’s record high

(31 July 2019, AFR, Vesna Poljak and William McInnes) ‘Interest rates drove the Australian sharemarket to a fresh record high on Tuesday, completing an 11-and-a-half year journey, but it will take improved corporate earnings to sustain prices at these levels. A 19.3 point, or 0.3 per cent, advance in the S&P/ASX 200 Index enabled the … Continue reading

31 July 2019 (TheAge) – Buyers beware as Australian sharemarket finally breaks records

(31 July 2019, The Age, Business, p31, Elizabeth Knight, Business columnist) ‘It’s taken 12 long years for the Australian stock market to recover from the punishing effects of the global financial crisis. The champagne set aside for the celebration is now vintage. The market has been flirting with a break-through for weeks and while the … Continue reading

31 July 2019 (TheAge) – Australian shares hit fresh highs, but risks to the rally remain

(31 July 2019, The Age, Business, p31, By David Scutt) ‘After years of underperforming other major equity markets – most noticeably those in the United States – Australian stocks have finally managed to hit fresh peaks. But it means investors face a difficult question: how long can this rally last? Tribeca Investment Partners portfolio manager … Continue reading

27 July 2019 (CNBC online) – S&P 500, Nasdaq notch another record close after strong earnings from Alphabet, Starbucks

(27 July 2019, CNBC online, Fred Imbert) ‘Stocks rose on Friday after strong earnings from tech giants like Alphabet and Intel and a better-than-expected GDP print pushed the S&P 500 to a new all-time high. The S&P 500 gained 0.7% to close at 3,025.86, posting a record high. The Nasdaq Composite also hit an all-time high, … Continue reading

26 July 2019 (TheAge) – Big banks underline how peculiar this record-breaking market has become

(26 July 2019, The Age, Business, p22, Stephen Bartholomeusz) ‘The record levels at which the Australian sharemarket has traded this week only highlights the extent of the continuing disconnect between equity markets and real economies. In the US the market is up about 20 per cent this year despite faltering corporate earnings. The majority of … Continue reading

26 July 2019 (TheAge) – Last time markets were this high, the GFC came next, so what’s coming now?

(26 July 2019, The Age, p8, By Malcolm Maiden) ‘The sharemarket’s new highs are a cause for nagging unease as much as confidence. This is, in part, because the previous record in November 2007 was set weeks before the market plunged into a crisis that pushed the entire financial system to the brink of collapse. … Continue reading

26 July 2019 (TheAge) – Share market hits all-time high – Iron ore, interest rates and banking relief – the ASX’s record cocktail

(26 July 2019, The Age, p1, By Clancy Yeates) ‘A cocktail of ultra-low interest rates, high iron ore prices and a stabilising housing market has pushed Australia’s sharemarket to a new record high, surpassing levels last seen before the carnage of the global financial crisis. The All Ordinaries index, which tracks the nation’s 500 biggest … Continue reading

25 July 2019 (TheAge) – ‘Short-term sugar hit’: ASX brushes records and sparks warnings

(25 July 2019, The Age, Business, p26, By Lucy Battersby and Clancy Yeates) ‘The local sharemarket’s brush with record levels has sparked warnings that the factors driving the growth, especially cheap debt, are not linked to strong company performance. The Australian All Ordinaries index closed at a record high level on Wednesday at 6862 points, … Continue reading

23 July 2019 (AFR) – China tech market shares gain up to 520pc in trading debut

(23 July 2019, AFR, p26, Hudson Lockett) ‘Shares rocketed by as much as 520 per cent on the first day of trading for Shanghai’s new science and technology-focused equities market, as investors scrambled to buy the first 25 companies to list on the so-called Star Market, leaving other Chinese equities high and dry. Star has … Continue reading

18 July 2019 (AFR) – Insider selling a clear signal of tough times ahead

[COMMENT: This article might be of interest to share market investors, giving some clues about how to be forewarned of possible company share price downside.] (18 July 2019, AFR, p29, Chris Stott) ‘For equity investors seeking that elusive edge, the buying and selling of a company’s shares by directors and executives can offer a compelling … Continue reading

9 July 2019 (AFR) – ASX posts biggest fall in five weeks

(9 July 2019, AFR, p27, William McInnes, Reporter) ‘Australia’s sharemarket fell over 1 per cent on Monday after solid US data dampened expectations the Fed would cut rates more than twice this year. Australian shares fell heavily on Monday after a solid US non-farm payrolls print dampened market expectations the Federal Reserve would cut rates … Continue reading

5 July 2019 (AFR) – ASX enjoys best finish since record high

(5 July 2019, AFR, p28, William McInnes, Reporter) ‘Australian shares closed at a fresh 11½-year high on Thursday as the major banks rebounded from a poor start to the week’s trading. The S&P/ASX 200 Index closed 32.5 points, or 0.5 per cent, higher at 6718 and the All Ordinaries advanced 30.7 points, or 0.5 per … Continue reading

3 July 2019 (CNBC online) – Dow and Nasdaq close at record highs amid expectations for the Fed to lower rates

(3 July 2019, CNBC online, Fred Imbert) ‘Stocks closed at record highs on Wednesday as investors bet on a potential rate cut from the Federal Reserve later this month after the release of weaker-than-expected economic data. The Dow Jones Industrial Average gained 179.32 points to end the day at 26,966, notching intraday and closing all-time … Continue reading

21 June 2019 (CNBC) – S&P 500 closes at new record as Wall Street bets Fed will lower rates, Dow surges nearly 250 points

(21 June 2019, CNBC online, Fred Imbert) ‘Stocks rallied on Thursday, led by strong gains in tech and energy shares, as Wall Street cheered the possibility that the Federal Reserve will cut interest rates next month. The S&P 500 surged 1% to 2,954.18, a record close. The broad index also hit an intraday record of 2,958.06. … Continue reading

14 June 2019 (AFR) – Investors bet RBA will do ‘whatever it takes’ to support ASX, bonds

(14 June 2019, AFR, p31, Sarah Turner, Reporter) ‘Bond and share prices are pushing toward multi-year highs in Australia, raising the stakes for investors who appear to be betting the RBA will do “whatever it takes” to stimulate inflation. The S&P/ASX 200 has jumped 15.9 per cent this year and is approaching the peak reached … Continue reading

12 June 2019 (AFR) – ASX up 1.6pc as investors bet on stimulus

(12 June 2019, AFR, p1, Patrick Commins and William McInnes) ‘The ASX blew past an 11-year high on Tuesday, confirming Australia’s position as one of the top performing sharemarkets in 2019 as investors bet that RBA rate cuts and fiscal stimulus will bolster economic growth and boost company profits. The decision by US President Donald … Continue reading

1 June 2019 (AFR) – US stocks cap worst month of year

(1 June 2019, AFR, online, Jeremy Herron and Vildana Hajric) ‘New York | US stocks extended a weekly loss to the worst since Christmas, while Treasuries rallied a fourth day as the Trump administration’s trade spats intensified. Oil tumbled. The S&P 500 also capped its worst month of the year, bringing its May decline past … Continue reading

1 June 2019 (AFR) – US stocks cap worst month of year

(1 June 2019, AFR, online, Jeremy Herron and Vildana Hajric) ‘New York | US stocks extended a weekly loss to the worst since Christmas, while Treasuries rallied a fourth day as the Trump administration’s trade spats intensified. Oil tumbled. The S&P 500 also capped its worst month of the year, bringing its May decline past … Continue reading

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