ASX 200 finished up only 6 points to 7860 (0.1%) as enthusiasm waned ahead of the Fed.US futures negative again. Banks slid with NAB and MQG under pressure, the Big Bank Basket down to $235.85 (-0.1%). REITs were solid with GMG up 1.1% and GPT up 0.9%. Industrials were mixed, ALL fell 2.8% with JBH off another 2.2% but WOW rose 1.2% with TLS quietly creeping higher. QAN jumped 2.5% with tech going nowhere. The All–Tech Index flat, XRO down 0.8%. Resources too were mixed, gold hit its 12th record this year, NEM up 2.5%. GOR fell 4.9% on production downgrades, GMD up again, 2.0% with VAU finding friends too. Lithium stocks still seeing shorts cover, LTR roared up 5.1% and PLS up 1.3%. MIN added to yesterday’s gains up 1.5% with iron ore stocks down slightly. Oil and gas stocks a little better, Uranium seeing small gains, and coal dominated by good results from NHC up 8.9%. In corporate news, ASB rose 7.6% as Hanwha raided the register. Nothing on the economic front, Asian markets stronger again, Japan up 1.4%, HK up 1.8% and China up 0.2%. 10-year yields 4.39%, little changed.

HIGHLIGHTS

  • Winners: CU6, NHC, ASB, QOR, CSC, FFM
  • Losers: AD8, GOR, SKC, ZIP, VGL, A2M, ALQ
  • Positive Sectors: Gold. Lithium. Insurers. Financials.
  • Negative Sectors: Nothing really.
  • ASX 200 Hi 7923 Lo 7850
  • Big Bank Basket: Flat at $235.85
  • All-Tech Index: Up 0.2%.
  • Gold: Steady at AUD$4720
  • Bitcoin: Falls to US$83025
  • 10-year yields steady at 4.39%.
  • AUD: Rises to 63.76c
  • Asian markets: Japan up 1.4%, HK up 1.8% and China flat.
  • Dow futures down 101 Nasdaq down 90

MARKET MOVERS

  • NHC +8.9% HY results and dividend.
  • ASB +7.6% Hanwha comes calling.
  • CSC +5.6% copper trade.
  • CGF +4.1% dividend reinvestment plan neutralised.
  • WAF +3.6% Toega maiden underground resource and scoping study.
  • OCC +5.5% approval for Striate sales in Singapore.
  • VNL +10.0% spinning higher.
  • ARU +11.4% rare earths in the frame.
  • 29M +6.1% few buyers turning up.
  • LRT +3.2% wakey wakey!
  • Speculative Stock of the Day: Nothing special on any volume today.

ECONOMIC AND OTHER NEWS

  • From the ABS – Short-term overseas trips at record highs – Total departures: 2,031,060 – an increase of 16.3% on one year earlier.
  • RBA has announced a theme for the new A$5 note based on First Nations peoples’ connection to country.
  • Chinese authorities have begun looking into CK Hutchison and the sale of its overseas ports business. Several Chinese agencies, including the State Administration of Market Regulation (SAMR), have been instructed by senior state leaders to study the deal for any potential security breaches or antitrust violations.
  • BYD shares jumped to a record after the Chinese automaker unveiled a line-up of electric vehicles that it says can charge almost as fast as it takes to refuel a regular car.
  • Shares of Japan’s biggest trading houses advanced after Berkshire Hathaway Inc. increased its stake.
  • Israel launches Gaza strikes in biggest attack since ceasefire.
  • Google parent Alphabet in talks to buy cyber security group Wiz for $30bn .
  • UK expects more than 30 countries to join Ukrainian ceasefire coalition.
  • Ray Dalio has this advice for investors, “Whatever success I’ve had in life, has been more due to my meditating than anything else.”

And finally….

Due to my bad back, my Indian Chiropractor advised me to sleep on a bed of rice. Well would you believe it, my back improved as soon as my head hit the pilau!!!!

My wife says I can be an idiot sometimes

It’s so nice to get her permission

Clarence

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