ASX gains as miners trump banks
Shares advanced after solid gains across mining and energy stocks helped the ASX overcome selling in the big banks.
Patrick Commins writes on Markets specialising in Equity Markets, Currencies, Debt Markets. Based in our Sydney newsroom, Patrick is Markets deputy editor and has over six years experience as a journalist.
Shares advanced after solid gains across mining and energy stocks helped the ASX overcome selling in the big banks.
Veteran emerging markets investor Mark Mobius says Asian business people are less vexed about Donald Trump than their Western counterparts.
The local sharemarket extended Tuesday's strong gains to hit another near two-year high, with banks once again at the vanguard of the rally.
Australia has been caught up in last year's global reversal in interest rates led by Donald Trump and a resurgence of populist policies around the developed world, Algebris' Alberto Gallo says.
It's not time to cut and run, but strategists are becoming more cautious about the tired looking bull market in mining stocks.
The G20 statement confirming a US-led tide of protectionism may puncture investor complacency around the risks of a global trade war.
Central bank policy dominated sharemarket trade: while a Fed hike was initially greeted with strong gains, a surprise follow-up move by China dampened the mood.
As the reflation trades of the past year ebb away, money managers are still grappling with a familiar problem: how to generate a decent return in what is likely to remain low growth, low inflation environment.
Investors are keen to invest in the European growth story but, days ahead of Dutch elections, are asking whether politics will spoil the party.
Miners have predictably been the stars, dividends are still hot and banks look solid.
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