- Another shocking day with the ASX 200 in full retreat. The index finished down 74 points (1.4%) to 5,215, down 2.7% for the week.
- Following on from the selloff in the U.S. and Europe, our market was sold down. After the weak opening this morning, buying started to come back in until the Chinese PMI numbers were released: 47.1 on an expectation of 47.7.
- From there, the market collapsed on further confirmation that China was slowing.
- The banks were annihilated, but came off their lows towards the close. Commonwealth Bank (CBA) was down 56c to $75.59 after a low of $74.16. Australia & New Zealand (ANZ) closed down 79c (2.7%) to $28.34 after a low of $28.00. National Australia Bank (NAB) closed down 88c (2.8%) to $31.66 after having hit $30.80. Lastly, Westpac (WBC) closed down 83c (2.6%) to $31.37; their low for the day was $30.91.
- The Resources were mixed on the close after being slightly stronger in the morning. BHP Billiton (BHP) was down 28c to $24.10 after breaking below the $24.00 level during the day at $23.93; its low since 2009 on an adjusted basis. RIO Tinto (RIO) was stronger and finished up 11c to $49.52. It had a low on the day of $48.98 which just broke in low it had in July this year.
Best Sector – Consumer Staples
Worst Sector – Financials
Winners
Medibank Pvt Ltd (MPL) +$0.27, or (+13.4%) to $2.28
Regis Resources Ltd (RRL) +$0.125, or (+8.9%) to $1.53
Newcrest Mining Ltd (NCM) +$0.52, or (+4.6%) to $11.84
Orica Ltd (ORI) +$0.49, or (+3.2%) to $16.04
Losers
Harvey Norman Holdings Ltd (HVN) -$0.17, or (-3.7%) to $4.47
Bank of Queensland Ltd (BOQ) -$0.48, or (-3.7%) to $12.57
Insurance Australia Group Ltd (IAG) -$0.30, or (-5.2%) to $5.52
Magellan Financial Group Ltd (MFG) -$1.18, or (-6.0%) to $18.65
All figures contained from sources believed to be accurate. MarketMatters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 21/08/2015. 4.30PM.
Reports and other documents published on this website (‘Reports’) are authored by Market Matters. The MarketMatters Reports are based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distribution without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor.
The Reports are published by MarketMatters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
The author holds an interest in the financial products of ANN, ANZ, BEN, CBA, NAB, SEK, VOC and WPL.
