Australian (ASX) Stock Market Forum

Tomorrow's trading on the ASX?

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debtfree said:
Unfortunately I won't be able to post the link of tonight's wrap or tomorrow morning's wrap, if its available as it is a holiday. Maybe @eskys or someone could be good enough to put the link in here for our viewers.
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Thank you for taking on the job, debtfree, much appreciate that.

Sorry, I didn't see your message/request until now. Haven't logged in since last week. Thank you, Dona, for posting.
 
debtfree said:
Market Index - Thursday Morning Wrap
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The Fed boss has told a press conference that based on the central bank’s current available data that he doesn’t “think it’s likely” it cuts interest rates in March.

“It’s not the most likely case or what we would call the base case” .

And that's the message. That the cycle of lifting has ended .... Mz Markette already knows this.
 
Market Index - Friday Morning Wrap

www.marketindex.com.au

Morning Wrap: ASX 200 to rise, Meta announces maiden dividend, Charts of the Week

The S&P 500 bounced after yesterday's Fed-induced selloff, the market continues to expect six rate cuts by year end despite Powell's pushback against a March rate cut, the Bank of England keeps rates on hold and signals to cuts once inflation eases, oil prices fall on reports of a ceasefire...
www.marketindex.com.au www.marketindex.com.au
 
here's a bit of disruption...

The Reserve Bank of Australia board will break new ground this week, by meeting on a Monday for the first time, holding a press conference outside a crisis and releasing its full set of economic forecasts earlier than usual.

There will be a move from 11 to eight board meetings a year; this will mean every meeting follows consequential economic data – either quarterly inflation or national accounts.
 
Here's an update on the ASX since Thursday. Should carry on today in much the same fashion?

The ASX is expected to open higher this morning with ASX200 futures up 30 basis points or +0.39% to 7,577. At the close on Thursday, the index slid -1.20%, with all sectors weaker on the back of uncertainty in the US, while the Australian dollar strengthened by +0.08% to 0.6573.

In stocks on Thursday, 86% of stocks were lower, with the financials leading the way as the sector finished -1.81% weaker. At the close CBA fell 2.9% to $114.10, NAB slid 2.2% to $31.90, Westpac was down 1.7% to $23.77, while ANZ edged 1% lower to $26.92.
 
RBA announcement still comes out on Tuesday, but there will be 2 meetings, Mo, Tu. Board, not just governor, will decide on rates. And a press conference Tu.
 
debtfree said:
Market Index - Monday Morning Wrap
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Bailxtrader said:
Here's an update on the ASX since Thursday. Should carry on today in much the same fashion?
Click to expand...
Interesting to see what happens with the ASX today I concur with the Market Index sediments today that the ASX will open lower. Although I criticize this and think the ASX has chance to open higher, despite latest data.

But my sources are much the same:

The ASX is expected to open lower this morning with ASX200 futures down 54 basis points or -0.70% to 7,608. At the close on Friday, the index rose +0.61%, led by gains in real estate and information technology up +3.27% and 3.13% respectively, while the Australian Dollar fell -0.91% on Friday to 0.6512 after the USD surged on the back of the latest employment report.

In local economic data, investors will be focusing on the latest RBA interest rate decision on Tuesday, with investors expecting the central bank to hold rates at 4.35% while hoping to see a softer tone on rate cuts. Across the Pacific, the focus will be on the latest Chinese PMI today and inflation data scheduled to be released on Thursday.
 
CommSec

@CommSec
·
1h

The Caixin/S&P Global services purchasing managers' index (PMI) edged down to 52.7 from 52.9 in December, but remained above the 50-mark that separates expansion from contraction for the 13th consecutive month.
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gu1CTtK0_normal.jpg

CommSec

@commsec
·
1h
China's services activity expanded at a slightly slower pace in January as new orders fell, a private-sector survey showed on Monday, suggesting a soft start for the world's No.2 economy amid tepid demand and a property slump.
 
CommSec

@CommSec
·
2h

China cut banks' reserve requirement ratio by 50 basis points on Monday to release about one trillion yuan worth of long term funds, it said in a statement. Central bank Governor Pan Gongsheng announced the cut on January 24, with effect February 5.
 

China Academic Calls for $1.4 Trillion Stock Stabilization Fund​


China should set up a stocks stabilization fund as soon as possible to boost market confidence, with an aim to get its size to 10 trillion yuan ($1.4 trillion) or more, according to an academic at a government think tank.
The size of the fund should be around $300 billion to $500 billion in the short term, the 21st Century Business Herald reported, citing Liu Yuhui of the Chinese Academy of Social Sciences. It should then be increased based on the value of the country’s capital market, Liu told the paper in an interview.
Chinese authorities are considering a package of measures to stabilize the slumping stock market, people familiar with the matter told Bloomberg News last month. Policy makers are seeking to mobilize about 2 trillion yuan, mainly from the offshore accounts of Chinese state-owned enterprises, they added.
Read More: China Eyes Stock Rescue Package Backed by $278 Billion
China’s stock selloff deepened last week, with a key index falling to a five-year low. The CSI 300 Index benchmark gauge tumbled 6.3% in January, a record sixth straight month of losses.

The stock market has undoubtedly shown liquidity pressure in the short term, Liu said, speaking to the paper in his capacity as director of another think tank known as China Chief Economists Forum.
Much of the buying power comes from the “national team” to maintain stability, he added, using a term that describes the state-related bodies that Chinese authorities lean on to buy stocks during times of turbulence.
The stabilization fund can act as a transparent system which is different from the intervention by the national team, Liu said.

— With assistance from Jeanny Yu
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