A curious thing has been happening in China’s vast real estate market — or rather,not happening.
The Australian sharemarket briefly flirted with an intraday record high at lunchtime before dipping,after Wall Street rebounded overnight on fresh hopes of an early interest-rate cut.
Pubs,clubs and restaurants are taking advantage of lower prices of the red meat as farmers cull their herds ahead of a drier,hotter seasonal outlook.
The ASX drifted lower on the second day of trading in the new year after investors sold off technology stocks on Wall Street and reined in their bets on the scale of interest rate cuts in the US.
The S&P/ASX200 closed 27.3 points,or 0.3 per cent lower,at 7590.8 on Friday,weighed down by all 11 sectors,which were trading in the red.
The Australian sharemarket’s rally ran out of puff on the last trading day before Christmas and finished flat,despite early morning futures indicating the local bourse would rise in line with strong gains on Wall Street.
The Australian sharemarket has hit a 10-month high led by gains in all 11 sectors amid rising hopes that interest rates relief is coming.
The Australian sharemarket closed in negative territory on Friday weighed down by tech stocks,but it pared back some of its earlier falls.
Ivan Glasenberg wanted to buy Canada’s Teck Resources to bulk up Glencore’s base metals and coal operations. His successor now is halfway there.
Insurers and banks buoyed the ASX on Friday after Wall Street inched lower,as pressure from the bond market stays high due to worries about a too-hot US job market.
A break in the close correlation between oil prices and the greenback has set off alarm bells.