The ASX 200 dropped 49 points to 8565 (0.6%) after a promising start. US futures in the negative hurt sentiment, together with Japanese losses on higher rates coming. Losses pretty much across the board, CSL fell 1.4% on vaccine concerns, the banks wilted with the Big Bank Basket down to $262.95 (0.7%). ANZ falling 1.3% and financials under pressure, HUB down 4.5% and NWL falling 4.0%. MQG dipped 0.4%. REITS slid with SGP down 2.3% and VCX off 1.2%. Industrials also sliding, TLS down 1.2% with CPU falling 3.3% and REA off 0.8%. Tech slipped, WTC down 2.6% and TNE falling 2.1%. Retail also in the doldrums, TPW resumed the dive, off 7.3%, APE similarly off 2.1% and NCK down 3.0%.

In resources, Iron ore majors held firm, gold miners were mixed despite bullion rising, EVN down 1.9% and lithium stocks depressed, PLS off 3.2% and MIN down 3.9%. Oil and gas stocks rose, WDS up 0.9% and uranium stocks mixed.

In corporate news, AUB slashed 17.8% lower as the bid was withdrawn, TWE has cleared the decks for the new CEO with a $687m impairment on US goodwill. PME dipped 1.6% on another order, the ASX itself had issues this morning with its announcement platform falling 2.8% as many stocks were put into a trading halt.

Nothing on the local economic front. Japan opened the door a little further on rate rises.

Asia markets mixed, Japan down 1.8%, China up 0.8% And HK up 0.8%.

10-year yields pushing to 4.55%.

US futures – Dow down 229 Nasdaq down 240. The holiday season is over.

HIGHLIGHTS

  • Winners: MI6, GGP, DPM, TUA, SGR
  • Losers: AUB, MTS, DGT, AEF, TPW, EOL, AIS
  • Positive Sectors: Iron ore. Oil and gas.
  • Negative Sectors: Everything else.
  • ASX 200 Hi 8625 Lo 8564
  • Big Bank Basket: Weaker at $262.95 (-0.7%)
  • All-Tech Index: Down 1.6%.
  • Gold: Spurts to $6484
  • Bitcoin: crunched to US$85975
  • AUD: Higher at 65.46c.
  • Asian markets: Japan down 1.8% China up 0.8% and HK up 0.8%.
  • 10-year yields steady at 4.55%.

MARKET MOVERS

  • GGP +10.2% Feasibility study for Havieron.
  • WEB +2.1% positivity continues.
  • SS1 +15.9% silver – Hi Ho!
  • HAV +14.6% SFR deal.
  • AUB -17.8% EQT and CVC pull out.
  • AEF -7.7% still struggling.
  • MTS -9.2% half yearly report.
  • HMC -7.0% profit taking after good gains last week.
  • TPW -7.3% sell off resumes.
  • MEI -12.5% environmental delays.
  • SEA -7.7% turns lower on investor webinar.
  • EOL -7.3% director sale of shares.
  • DGT -8.2% resumes downward path.
  • Speculative Stock of the Day: DGR +68%. Ok volume.

ECONOMIC AND OTHER NEWS

  • Silver jumped more than 2% to a record high, supported by ongoing supply tightness and rising expectations for an interest-rate cut in the US this month.
  • Japanese stocks led losses in Asia, and the yen rose as BoJ Governor Kazuo Ueda sent the clearest hint yet of a rate hike this month. Ahead of his speech, the two-year bond yield rose to the highest since 2008.
  • Traders now see about a 64% chance of a Japanese rate hike when the central bank concludes its next policy meeting on Dec. 19
  • Cryptocurrencies fell sharply on Monday, bringing fresh momentum to a wide-ranging selloff that appeared to have settled.
  • Bitcoin slid as much as 5.1% to below $87,000 in early Asia trading.
  • The RatingDog China General Manufacturing PMI fell to 49.9 in November, missing analysts’ expectations of 50.5 in a Reuters poll.
  • The private-surveyed reading slowed from 51.2 in September and 50.6 in October.  New export orders expanded at the quickest pace in eight months.
  • NATO considers being ‘more aggressive’ against Russia’s hybrid warfare.

And finally…

Someone threw a bottle of Omega 3 capsules and the bottle hit me!
It wasn’t too bad, though
I only had Super Fish Oil injuries.

Clarence

XXXX