Australian Shares

AUD is off during the morning: Bonds are mixed: XJO is trying but mostly failing: CNY is stable: Dalian has held overnight losses: Big Iron is weak.

By Chris Becker With Wall Street taking the night off its been a directionless affair in Europe and elsewhere, but the trade war geopolitical tensions remain elevated enough to keep traders on their feet.

AUD  is off to the races after marginally better than feared retail sales: Bonds are still bid: XJO is down: CNY is still firming: Dalian is stable: Big Iron is down.

By Chris Becker Wall Street finished early for July 4th holidays and sold off quickly into the shorter session, dragging down the risk complex with it as nerves remain high around the trade war with China.

A mixed day here in Asia in response to the suddenly positive mood on Wall Street overnight, with stock markets all over the place.

AUD is near the lows again after a nasty miss on building approvals which looks very credit crunchy: Bonds still bid: XJO up: CNY still crashing with the PBOC setting: Shanghai does not look well: Dalian soft: Big Miners are weak.

By Chris Becker A strong turnaround overnight on Wall Street clawed back some very nervous traders as the week started very poorly here in Asia.

Via the AFR: Australia’s top equity strategists agree the best way to beat the market in the 2019 financial year is be long resources and wary of banks and the high-flying growth stocks which lit up the bourse in 2017-18.

Outside Australia is a sea of red again on stock markets with Chinese and Japanese bourses losing 2% or so to start the week on a very bad note.

By Chris Becker  Another great week full of opportunities for short term traders and full requirement for hedging and protection for long only holders of stocks.

A much more positive end to the week/month/quarter/year here in Asia, with risk markets lifting basically on the migration policy getting nutted out in the EU.

By Chris Becker Its nearing the end of the month/quarter/financial year and traders are getting a little complacent given the big moves in China recently, both stock and currency wise.

Via Damien Boey of Credit Suisse today: Resources caught in the emerging market crunch Overnight, we published an article (attached) explaining why we are negative on resources exposures.

By Chris Becker Well there it is, risk markets are now in full correction mode with Wall Street falling overnight with the S&P500 breaking its key trendline and other key market assets like Aussie dollar signalling that the bears are now in charge.

Chinese stocks again led the selloff here in Asia as the Yuan dived against USD after the new PBOC fix, who seem to be taking a ECB like approach to heading off as much monetary policy as possible in the face of a growing trade war with America.

By Chris Becker A small uptick in overnight stock markets basically on exhaustion trying to follow the vagaries of the widening trade war.

Chinese stocks are now in bear mode with losses now exceeding 20% in the wake of the Chimerican Trade War of 2018.

AUD  is soft through the morning: Bonds are bid.

By Chris Becker Its a hard no from risk markets on the White House’s attempt to paper over the huge risks they’ve engendered with Trumps trade war.

Not a good start to the week with risk markets falling immediately on the Monday morning open, absorbing Friday nights OPEC meeting and lack of direction from Wall Street.

AUD is down this morning: Bonds are bid and the Aussie curve is flattening: XJO is down modestly: Dalian is fighting to keep Friday’s whacko gains after yesterday’s China RRR cut.