The ASX200 had a fairly quiet Tuesday finally closing down 0.26% in a lackluster session which saw no stocks rally, or fall by more than 5%. The Tech Sector continued to struggle even on a day when the Energy names took a well-deserved breather. Over the day US S&P500 futures appeared to direct traffic on the local market i.e. when they rallied early in the morning the ASX200 advanced around 30-points only to reverse the early gains as the US futures followed Asian indices lower after Sinic Holdings (2103 HK) became the latest Chinese real estate firm...
On Monday the ASX200 again recovered strongly from early losses to end the session down less than 0.3%, when we take into account weak US S&P500 futures throughout much of our day and Star Entertainment (SGR) plunging almost 23% on more regulatory scrutiny for the sector, we felt it was another solid performance by the local market. It may sound myopic on our part considering we’re still bullish risk assets at current levels but stocks are still absorbing bad news and to us it has the overall feel that too many players are now short, or underweight equities.
The ASX200 along with most global equity indices have had the proverbial kitchen sink thrown at them over recent weeks, if I was a “Bear” I would be extremely disappointed with the impact on equities to-date e.g. the ASX200 is only 4% below its all-time high while the US S&P500 has fared even better closing on Friday just 3.4% below its equivalent milestone. The following list of current market headwinds would have at sent all but the most resilient stock markets into official correction territory - a market correction is generally acknowledged to be 10%, or more. This morning’s snapshot list is...
The ASX200 rebounded nicely on Thursday as many stocks & sectors continue to rotate on an almost daily basis, on this occasion Tech was the standout winner while the Energy sector took a well-earned breather, almost the exact opposite to the respective moves on Wednesday. It doesn’t feel like “fresh money” is entering or leaving the market which overall makes sense as the index hasn’t moved since mid-June, investors appear to be simply looking for better places to lodge their funds within the market on an...
The ASX200 disappointingly reversed lower yesterday after a promising early start following a strong night on Wall Street, however 3 major headwinds engulfed our market throughout the day, MM’s view is the plunge by US futures was key to the decline by local stocks but there wasn’t much good news crossing the news wires for investors:
The ASX200 climbed impressively from its lunchtime low yesterday to end the session down just 0.3%, not a bad effort considering the weak leads from the US and Europe. Over 70% of the market closed in the red but the losses were concentrated in the less influential tech stocks enabling the major index to remain resilient as the “buy the dip” mentality remerged – one day doesn’t make a summer but MM believes the markets looking good for an October rally.
The ASX200 kicked off the week with a bang even though many of us enjoyed a long weekend – a sunny one in Sydney. It’s not often you see CBA rally over 5% in one day but a heavily oversubscribed $6bn buyback, which represents 3.8% of the banks issued capital, was enough to the send the stock within a few percent of its all time high, there were a couple of simple but important points for investors to consider & enjoy:
The ASX is set to rise ~50 points this morning recouping about a 1/3rd of Fridays aggressive 2% decline. Much of the country is enjoying a public Holiday Monday today although the ASX remains open. Market Matters is off today however we'll be back tomorrow with our usual Macro Monday Report (on Tuesday).
The ASX200 finally found its mojo on the last day of September rallying 1.88% on broad based buying which ultimately saw 86% of stocks close in positive territory, the “Big 4” banks caught my attention gaining an average of 2.4% - perhaps we have a clue as to what sector could drag the index to fresh highs, as we said yesterday moving forward the heavy liftings likely to be relatively concentrated. COVID has already become old news as far as financial markets are concerned, Thursday saw awful...
As we approach Q4 the question being asked by many is can the AX200 again rise from the ashes, yesterday it was battered for the 2nd successive day as September looks set to live up to its bearish reputation, the index is sitting down 4.5% with just today’s session remaining. Stocks have been caught with a classic “1-2 combination” as the deteriorating macro picture threatens to derail the liquidity driven bull market:
On Monday the ASX200 again recovered strongly from early losses to end the session down less than 0.3%, when we take into account weak US S&P500 futures throughout much of our day and Star Entertainment (SGR) plunging almost 23% on more regulatory scrutiny for the sector, we felt it was another solid performance by the local market. It may sound myopic on our part considering we’re still bullish risk assets at current levels but stocks are still absorbing bad news and to us it has the overall feel that too many players are now short, or underweight equities.
The ASX200 along with most global equity indices have had the proverbial kitchen sink thrown at them over recent weeks, if I was a “Bear” I would be extremely disappointed with the impact on equities to-date e.g. the ASX200 is only 4% below its all-time high while the US S&P500 has fared even better closing on Friday just 3.4% below its equivalent milestone. The following list of current market headwinds would have at sent all but the most resilient stock markets into official correction territory - a market correction is generally acknowledged to be 10%, or more. This morning’s snapshot list is...
The ASX200 rebounded nicely on Thursday as many stocks & sectors continue to rotate on an almost daily basis, on this occasion Tech was the standout winner while the Energy sector took a well-earned breather, almost the exact opposite to the respective moves on Wednesday. It doesn’t feel like “fresh money” is entering or leaving the market which overall makes sense as the index hasn’t moved since mid-June, investors appear to be simply looking for better places to lodge their funds within the market on an...
The ASX200 disappointingly reversed lower yesterday after a promising early start following a strong night on Wall Street, however 3 major headwinds engulfed our market throughout the day, MM’s view is the plunge by US futures was key to the decline by local stocks but there wasn’t much good news crossing the news wires for investors:
The ASX200 climbed impressively from its lunchtime low yesterday to end the session down just 0.3%, not a bad effort considering the weak leads from the US and Europe. Over 70% of the market closed in the red but the losses were concentrated in the less influential tech stocks enabling the major index to remain resilient as the “buy the dip” mentality remerged – one day doesn’t make a summer but MM believes the markets looking good for an October rally.
The ASX200 kicked off the week with a bang even though many of us enjoyed a long weekend – a sunny one in Sydney. It’s not often you see CBA rally over 5% in one day but a heavily oversubscribed $6bn buyback, which represents 3.8% of the banks issued capital, was enough to the send the stock within a few percent of its all time high, there were a couple of simple but important points for investors to consider & enjoy:
The ASX is set to rise ~50 points this morning recouping about a 1/3rd of Fridays aggressive 2% decline. Much of the country is enjoying a public Holiday Monday today although the ASX remains open. Market Matters is off today however we'll be back tomorrow with our usual Macro Monday Report (on Tuesday).
The ASX200 finally found its mojo on the last day of September rallying 1.88% on broad based buying which ultimately saw 86% of stocks close in positive territory, the “Big 4” banks caught my attention gaining an average of 2.4% - perhaps we have a clue as to what sector could drag the index to fresh highs, as we said yesterday moving forward the heavy liftings likely to be relatively concentrated. COVID has already become old news as far as financial markets are concerned, Thursday saw awful...
As we approach Q4 the question being asked by many is can the AX200 again rise from the ashes, yesterday it was battered for the 2nd successive day as September looks set to live up to its bearish reputation, the index is sitting down 4.5% with just today’s session remaining. Stocks have been caught with a classic “1-2 combination” as the deteriorating macro picture threatens to derail the liquidity driven bull market:
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