Australian banks Australian LNG Australian Shares Commodities Iron ore price

ASX sucked into Dalian crash

Monday, 23 May 2016

Big iron ore is down sharply today but still not enough versus what is transpiring in China. Dalian is limit down but BHP is only off -1.9%, RIO -1.8% and FMG -2.8%. It appears there are lots of hopefuls still buying the dip in these miners even though the bear market has miles yet to run:

Big gas is also off quite hard for no apparent reason with WPL -1%, OSH -4.5%, -ORG -3.8% and STO -1.5%:

Banks have caught the mood with CBA -0.5%, WBC -1.2%, NAB -0.7%, ANZ -.9%, BOQ -0.8%, SUN -1.22%, BEN -0.9% with MGG flat:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.