ASX down 1.1pct ahead of busy week of data
The local bourse has dropped by 1.1 per cent, as traders take a little off the table before the release of US inflation and Chinese GDP figures.
The local bourse has dropped by 1.1 per cent, as traders take a little off the table before the release of US inflation and Chinese GDP figures.
The local share market has closed at its lowest level in 14 months following three sharp declines in the past four days.
It's been another brutal day for Australia's banks and non-bank mortgage lenders, with the financial sector on track for its worst week since March 2020.
The Australian share market has finished 0.36 per cent higher amid gains for oil producers and coalminers, while the big banks posted losses.
Brisbane-based crypto exchange Swyftx and Sydney-based low-cost share brokerage Superhero have agreed to merge into a single "superapp".
The local bourse has mostly fallen ahead of a key decision on interest rates, but oil producers and coalminers gained with some hitting 52-week highs.
The Australian share market finished May on a sour note, dropping 1.0 per cent with every sector losing ground and snapping a two-day winning streak.
Most sectors of the Australian share market were modestly lower at midday, with tech stocks the worst laggards.
The local share market was up 0.8 per cent at midday despite another selloff in the tech sector, which dipped following a profit warning by Snapchat's owner.
The Australian share market faded on Tuesday to close down slightly amid concerns that COVID-19 lockdowns have damaged China's economy.
The volatile technology sector was down 2.4 per cent at midday, but gains by the big banks and miners was keeping the market slightly above water.
The Australian share market started up by as many as 50 points after the weekend's federal election, but faded by the end of the day.
The ASX200 is up 0.2 per cent at midday, with mining stocks gaining and Codan and Elders posting strong gains on earnings updates.
The major miners have led the ASX higher, with iron ore prices rising as China reopens.
The major miners are leading the market higher as iron ore prices rise as China reopens.
The ASX has fallen under 7000 points and hit a 14-week low amid carnage in the tech sector, which has suffered its worst single-day losses since March 2020.
Roundup of ASX and finance activity. There will be a noon update, another at the close of the ASX and then a final wrap by 1730 (AEST).
The Australian share market has closed lower for a second day after the Reserve Bank raised the cash rate higher than expected.
The Australian share market has bounced bank from three days of losses, gaining 1.3 per cent, its best single-day performance since January 28.
The ASX has suffered its worst session since the start of the war in Ukraine, with miners and oil producers sharply lower following China's COVID outbreak.
Australian shares gained 0.6 per cent before the Easter long weekend despite financial stocks coming under pressure.
Australian shares have traded 0.6 per cent higher midway through the session, despite weaker sentiment in financial stocks.
Investors have watched the ASX close lower after signs the US Federal Reserve wants larger rate increases to head off inflation.
Shares have slipped on the ASX after worries in the US about the central bank taking more aggressive action to curb inflation.
April Fools' Day has been no laughing matter on the Australian share market as inflation concerns hamper momentum.
Market heavyweight BHP jumped five per cent and the ASX rose for a fourth day in the past five as it thrives on demand for commodities.
Big miners on the ASX were soaring as commodity prices remain lofty, helping the market higher for a fourth day in the past five.
Australia's share market gained more than one per cent before an expected rate rise from the US Federal Reserve.
Technology shares boomed and the rest of the Australian market was rising too after Wall Street responded well to inflation figures and lower oil prices.
ASX investors have clawed back some early losses after Reserve Bank minutes showed its board is in no hurry to hike rates despite rising inflation.
Investors relieved by easing oil prices have pushed the Australian share market to its best gain in four weeks.