Yesterday, the Australian market slumped for the third consecutive session as investors locked in gains from recent rallies. The benchmark S&P/ASX200 index was 58.4 points, or 1.47 per cent lower, at 3,904.1 points, while the broader All Ordinaries index fell 53.7 points, or 1.36 per cent, at 3,904.2 points.
Yesterday, the Australian market ended marginally lower as investors were encouraged by the Wall Street rallies. The benchmark S&P/ASX200 index ended the day down 0.3%, or 8.9 points, at 3235.5. The broader All Ordinaries index was also down 0.3%, or 8.7 points, at 3190.4. "Many investors have feared worst, and many are probably predicting companies such as GM would eventually be gone, and are already prepared for it," says Thomas Su, Research Director of Money Cat Consulting. It may be too early to predict, but it seems the financial stocks may start leading the gain in the second half of the year, Thomas Su added.
Australian shares closed lower on Friday. The Australian market sunk further into the red and languished in negative territory amidst gloomy economic news from here and overseas, according to CMC Markets.
Yesterday Asian share markets ended broadly lower after Wall Street's massive sell-off over the revised proposal to shore up U.S. banks. Japanese markets were closed for a public holiday. Hong Hong's Hang Seng Index dropped 2.5%, while South Korea's Kospi gave up 0.7%.
The Australian share market ended last week with 1% higher led by the overseas markets. The benchmark S&P/ASX200 index surged 41.3 points, or 1.2%, to 3469.9 while the broader All Ordinaries index closed with 34.9 points higher, or 1%, settled at 3407.5.
Yesterday offshore markets helped lift the Australian share market to a two-month high. Investors started to return as they were increasingly confident that the market may have passed the worst situation. The benchmark S&P/ASX200 index was up 37.0 points, or 0.99 per cent, at 3,779.7, and the broader All Ordinaries index added 39.0 points, or 1.06 per cent, to 3,728.2. The weaker commodities prices and performance of US stocks may send the local market down.
Yesterday the Australian share market closed higher with gains across all sectors, except for healthcare. The market remained quiet with low trading volume and less news out. The S&P/ASX200 index rose 55.7 points, or 1.5%, to 3742.7, a near two-month closing high, while the broader All Ordinaries index gained 50.3 points, or 1.4%, to 3689.2.
On Monday, the Australian share market closed around four per cent higher, boosted by gains in the financial and resources sector and a rally on United States markets on Friday. Meanwhile, bargain hunters took the buying opportunity to snap cheap stocks. Energy sector was also pushed up by the higher oil price as well as the Santos takeover talks. The benchmark S&P/ASX200 index gained 141.7 points, or 4.06 per cent, to 3,631.6, while the broader All Ordinaries was up 126.6 points, or 3.69 per cent, at 3,553.8. The news a short-term rescue package for the US carmakers expected to be unveiled may strengthen the market sentiment today. Resource stocks would also gain after commodity prices advanced.
On Wednesday, the Australian stock market closed marginally higher as figures showed that economic growth slowed to a crawl in the September quarter. The benchmark S&P/ASX200 index rose 5.6 points, or 0.16 per cent, to 3,533.8, while the broader All Ordinaries added 3.1 points, or 0.09 per cent, to 3,476.5. In recent weeks, the Australian share kept see-sawed during the trading day. In a short term investors remained cautious to any trigger on the market, while the impact for low interest rates and government stimulus may need some time to work.
On Friday, the Australian share market benchmark S&P/ASX200 index closd 154.5 points, or 4.3% higher, to 3742.5, while the broader All Ordinaries jumped 144.5 points, or 4.1%, to 3,672.7. The market experienced a best week for the two indexes since the recent two months, delivering weekly gains of 9.5% and 8.4%, respectively. However, the weak economic data and profit outlook would send the local market lower despite the strong lead from overseas markets. The news about RBA's expected aggressive rate cut will dominate the market this week.