Market News

Property prices are tumbling, major developers are in dire straits, and a significant financial conglomerate has missed interest payments, invoking memories of the 2008 financial crisis. While alarm bells are ringing about a potential systemic crisis in China, market signals are painting a contrasting picture. Historically, a crisis brewing in the financial sector is often […]

In a surprising turn of events, the commodity that should be bearing the brunt of China’s deepening property crisis is instead displaying remarkable strength. Iron ore recently reached its highest point in a month, defying the shadows cast by China’s debt-laden economy. Despite waves of disconcerting news from the real estate sector, which usually constitutes

NZ-based Fisher & Paykel Healthcare Corporation looks on track to make guidance for the six months to September and the full financial year ending March 2024 after delivering an update to the company’s annual meeting yesterday (Tuesday). And in doing so first half earnings could see a small rise on a year who when net

Shares of Adbri (ASX:ABC), formerly known as Adelaide and Brighton and headquartered in Adelaide, experienced a steep decline of more than 14% in value yesterday. This came as a surprise to some, considering the company’s solid performance in the first half of the year, despite its decision to omit an interim dividend. The half-year report

BlueScope Steel’s (ASX:BSL) concise three-paragraph statement to the ASX regarding a substantial $57.5 million fine in the Federal Court raises eyebrows. The company’s terse announcement attributed the penalty to “civil proceedings brought by the ACCC against BlueScope and one of its former employees.” The Court, in its decision, imposed a landmark $57.5 million penalty on

At the closing bell, the S&P/ASX 200 was 0.71 per cent higher at 7,210.5. The market is anticipating a speech from Michele Bullock, who is set to become the incoming Reserve Bank governor. This event is expected to impact market dynamics. Futures The Dow Jones futures are pointing to a rise of 40 points. The

Chimeric Therapeutics (ASX:CHM) announced the successful treatment of the third participant, required to complete the fourth and final planned dose escalation cohort, in the CHM 1101 Phase 1A clinical trial, has been completed at City of Hope. In response, Jennifer Chow, CEO and Managing Director commented, “We look forward to providing an update on the

Consumer confidence in Australia, as measured by the ANZ-Roy Morgan survey, saw a 2.3-point increase in the past week. Notably, confidence went up in New South Wales, Victoria, and Queensland, while it declined in South Australia and Western Australia. The survey also indicated a 0.3% decrease in weekly inflation expectations, settling at 5.2%. The four-week

Chinese electric vehicle (EV) giant, BYD, announced a remarkable 207% increase in earnings during the first half of this year, propelled by record-breaking production and sales figures. The company’s dominance in the new energy vehicle (NEV) market, including batteries and plug-in electrified vehicles, further solidified its status as China’s leading auto brand. This news holds

Embattled casino group, Star Entertainment (ASX:SGR), has posted a staggering loss of $2.4 billion for the fiscal year ending on June 30, primarily due to substantial write-downs in the value of its casinos exceeding $2 billion. The company informed the ASX that it had devalued The Star Sydney, The Star Gold Coast, and Treasury Brisbane