A bit of a nothing session today for the ASX, the best of it was seen early with the index up ~30pts at its highs before a lacklustre afternoon session saw the gains evaporate, Energy the biggest drag overall while the banks came off as the day wore on.
An eventful week in markets came to a close with the ASX down a touch, although we did see a spirited fight back from an early sell-off with the ASX 200 rallying +32pts from the day’s low. Banks on the nose still but more companies finished in the green than the red – some corporate activity implying that it’s not all doom & gloom out there!
The choppy market action continued today as the ASX200 bounced along the bottom of its current trading range – for now at least – with a lot of indecision playing out in both equity and bond markets. Significant disparity between market pricing and central bank rhetoric is one element at play overlayed by lingering concerns around the financial sector, the huge volatility in bond markets is not helping!
Another positive session pushing the ASX 200 back up through 7000 as a strong bounce back in Energy and steady buying in Materials & Financials underpinned strength at the index level, 70% of the market finished the day on the right side of the ledger as nerves start to calm – for now at least, ahead of the US interest rate decision tonight.
The Sunday night of UBS’s takeover of Credit Suisse helped the market stem losses early in the session, however, the afternoon showed there are still plenty of nerves around the current market and the banking crisis. At midday, the ASX200 was 40pts above its early session low before the sellers returned once most Asian markets opened, all falling in unison to take the index to the lowest level in more than 4 months to close below 6900. Gold was once again the place to hide, making up the bulk of the winners today, though the materials sector still closed -0.79% lower
A tough day at the office with the ASX down ~1.5%, the only silver lining was the index finished more than +50pts up from the session low hit at 11 am following news that Credit Suisse had tapped the Swiss National Bank for up US$54b, with the hope of containing the issues. While positive, there’s still a lot to play out here and the volatility we’re seeing in bond markets is clearly a concern.
The local market saw a bit of a relief rally today as concerns over the collapse of SVIB eased. Tech was the main winner of the bunch, but a strong day from market heavyweights financials and materials supported the index. Energy closed marginally lower as oil hit a 3-month low overnight before rebounding somewhat in Asian trade today.
Risk assets continued their sell off today with broad-based weakness seen across the ASX. The index fell below the psychological 7000 level for the first time since January 4, though it showed some fight to close marginally above that level in the end. Energy felt the brunt of the pain today as the global growth concerns were caught up in the bank contagion fears.
An eventful week in markets came to a close with the ASX down a touch, although we did see a spirited fight back from an early sell-off with the ASX 200 rallying +32pts from the day’s low. Banks on the nose still but more companies finished in the green than the red – some corporate activity implying that it’s not all doom & gloom out there!
The choppy market action continued today as the ASX200 bounced along the bottom of its current trading range – for now at least – with a lot of indecision playing out in both equity and bond markets. Significant disparity between market pricing and central bank rhetoric is one element at play overlayed by lingering concerns around the financial sector, the huge volatility in bond markets is not helping!
Another positive session pushing the ASX 200 back up through 7000 as a strong bounce back in Energy and steady buying in Materials & Financials underpinned strength at the index level, 70% of the market finished the day on the right side of the ledger as nerves start to calm – for now at least, ahead of the US interest rate decision tonight.
The Sunday night of UBS’s takeover of Credit Suisse helped the market stem losses early in the session, however, the afternoon showed there are still plenty of nerves around the current market and the banking crisis. At midday, the ASX200 was 40pts above its early session low before the sellers returned once most Asian markets opened, all falling in unison to take the index to the lowest level in more than 4 months to close below 6900. Gold was once again the place to hide, making up the bulk of the winners today, though the materials sector still closed -0.79% lower
A tough day at the office with the ASX down ~1.5%, the only silver lining was the index finished more than +50pts up from the session low hit at 11 am following news that Credit Suisse had tapped the Swiss National Bank for up US$54b, with the hope of containing the issues. While positive, there’s still a lot to play out here and the volatility we’re seeing in bond markets is clearly a concern.
The local market saw a bit of a relief rally today as concerns over the collapse of SVIB eased. Tech was the main winner of the bunch, but a strong day from market heavyweights financials and materials supported the index. Energy closed marginally lower as oil hit a 3-month low overnight before rebounding somewhat in Asian trade today.
Risk assets continued their sell off today with broad-based weakness seen across the ASX. The index fell below the psychological 7000 level for the first time since January 4, though it showed some fight to close marginally above that level in the end. Energy felt the brunt of the pain today as the global growth concerns were caught up in the bank contagion fears.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
