Markets Live: ASX rebounds as rate fears fade
![Did that really happen? Traders are baffled by the hefty swings in the market.](/web/20160913004646im_/http://www.theage.com.au/content/dam/images/g/q/u/5/s/l/image.related.landscape.120x80.grevy7.png/1473727064272.jpg)
Shares jump at the open, after Fed official doused fears of an imminent US rate hike.
Shares jump at the open, after Fed official doused fears of an imminent US rate hike.
The ASX is set to snap back from Monday's sell-off after a much anticipated speech from a US Federal Reserve member helped Wall Street rebound overnight.
If we do get a correction in the equity market, we will finally work out what the big yield stocks are really worth.
The realisation that the US Federal Reserve "means business" has set up a volatile September.
There may be more pain to come, but rather than indiscriminately selling now, investors would be best served digesting the lessons of a sharp reversal in bond yields and what that might mean for their portfolios.
The more than $30 billion plunge in the value of Australian equities on Monday will make a dent in all our investments and super funds and result in an understandable degree of panic.
The Australian sharemarket suffered its worst day since the Brexit vote, with nearly $35 billion in value wiped off the board.
Living in Australia, there's a danger of taking James Morrison for granted. Glenn Stevens has become a bit like that too.
Shares jump at the open, after Fed official doused fears of an imminent US rate hike.
Investors wiped almost $19 billion off Samsung Electronics' shares after the tech giant told customers to switch off and return their new Galaxy Note 7 smartphones due to fire-prone batteries.
But talk of an impending crisis as central bank stimulus winds down may be overstated, some strategists say.
The local sharemarket looks set to open sharply lower after steep falls in the US and Europe on Friday night.
Housing booms in New Zealand and Australia could be putting the neighbors' currencies on course to reach parity for the first time ever.
Housing booms in New Zealand and Australia could be putting the neighbors' currencies on course to reach parity for the first time ever.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7567 | 0.7563 | 0.0000steady | 0.00% steady |
AUD/EUR | 0.6736 | 0.673 | -0.0001fall | -0.01% fall |
Updated: September 13, 2016 - 10:13AM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 837,794,290 | 430,371,878 | 166,336 |
Industrial | 634,433,953 | 173,247,442 | 130,238 |
Mining | 201,745,259 | 257,049,489 | 35,174 |
David Samra, awarded for his stock-picking during and after the 2008 financial crisis, says now's the time for a steady hand and no emotion.
The Sydney software company just released its first quarterly earnings report since listing on the Nasdaq late last year.
Markets are in a well-oiled "death spiral," analysts at Citigroup say.
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
EER | EAST ENERGY RESOURCE | 0.025rise | 0.006 | 0.005 |
AEE | AURA ENERGY | 0.039rise | 0.025 | 0.025 |
OPT | OPTHEA LIMITED | 0.900rise | 0.700 | 0.650 |
EMH | EUROPEAN METALS HLDG | 0.645rise | 0.520 | 0.400 |
APD | APN PROPERTY GROUP | 0.635rise | 0.585 | 0.605 |
DGH | DESANE GROUP HLDINGS | 0.820rise | 0.790 | 0.815 |
FCT | FIRSTWAVE CLOUD TECH | 0.620rise | 0.600 | 0.400 |
CBL | CBL CORPORATION LTD | 3.400rise | 3.300 | 2.900 |
SMR | STANMORE COAL LTD | 0.520rise | 0.510 | 0.450 |
CCP | CREDIT CORP GROUP | 17.450rise | 17.335 | 17.140 |
Updated: September 13, 2016 - 10:42AM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
TSM | THINKSMART LIMITED | 0.340fall | 0.360 | 0.390 |
ATS | AUSTRALIS OIL & GAS | 0.235fall | 0.245 | 0.240 |
Updated: September 13, 2016 - 10:41AM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Aurora Labs Limited | AD3 | 0.20 | |
Broo Ltd | BEE | 12/09/2016 | 0.20 |
CFOAM Limited | CFO | 29/07/2016 | 0.20 |
DomaCom Limited | DCL | 18/08/2016 | 0.75 |
Faster Enterprises Ltd | FE8 | 18/08/2016 | 0.20 |
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