Markets Live: ASX perks up as BoJ shifts
The ASX extends gains above 5300, as investors digest the Bank of Japan's decision to adopt a target for long-term interest rates.
Jens is the markets and breaking news editor, based in Sydney.
The ASX extends gains above 5300, as investors digest the Bank of Japan's decision to adopt a target for long-term interest rates.
Well, not exactly no-one. Goldman Sachs chief economist Tim Toohey reckons the speech RBA assistant governor Chris Kent delivered on Tuesday amounts to an explicit shift to a neutral policy stance.
The local sharemarket posted its first gain in five sessions, but investors warn markets are likely to remain volatile.
Shares end lower for a fourth session, after an early rally faded as investors turn cautious, with the big banks leading the way down.
Australia's economy grew at an annual pace of 3.3 per cent in the second quarter, raising doubts about the necessity of further rate cuts.
Investor fears of an imminent US rate rise and falling commodity prices triggered a hefty selloff that saw the ASX end the week in the red.
Not even a bumper result by Harvey Norman could cheer investors, as the ASX ended the month and earnings season in the red.
Australia's fiscal position is becoming increasingly untenable, even if current debt and deficit metrics remain low by global standards, TD Securities warns.
The sharemarket closes lower, reflecting nervousness ahead of a key speech by US central bank chief Janet Yellen.
The ASX ended weaker as investors took profits ahead of Fed Reserve chair Janet Yellen's speech.
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