singapore hotel: Markets Live: Shares at day"s low

‘; var fr = document.getElementById(adID); setHash(fr, hash); fr.body = body; var doc = getFrameDocument(fr); doc.open(); doc.write(body); setTimeout(function() {closeDoc(getFrameDocument(document.getElementById(adID)))}, 2000); } function renderJIFAdWithInterim(holderID, adID, srcUrl, width, height, hash, bodyAttributes) { setHash(document.getElementById(holderID), hash); document.dcdAdsR.push(adID); document.write(”); } function renderIJAd(holderID, adID, srcUrl, hash) { document.dcdAdsAA.push(holderID); setHash(document.getElementById(holderID), hash); document.write(” + ‘ript’); } function renderJAd(holderID, adID, srcUrl, hash) { document.dcdAdsAA.push(holderID); setHash(document.getElementById(holderID), hash); document.dcdAdsH.push(holderID); document.dcdAdsI.push(adID); document.dcdAdsU.push(srcUrl); } function er_showAd() { var regex = new RegExp(“externalReferrer=(.*?)(; |$)”, “gi”); var value = regex.exec(document.cookie); if (value value.length == 3) { var externalReferrer = value[1]; return (!FD.isInternalReferrer() || ((externalReferrer) (externalReferrer 0))); } return false; } function isHome() { var loc = “” + window.location; loc = loc.replace(“//”, “”); var tokens = loc.split(“/”); if (tokens.length == 1) { return true; } else if (tokens.length == 2) { if (tokens[1].trim().length == 0) { return true; } } return false; } function checkAds(checkStrings) { var cs = checkStrings.split(“,”); for (var i=0;i 0 cAd.innerHTML.indexOf(c)0) { document.dcdAdsAI.push(cAd.hash); cAd.style.display =’none’; } } } if (!ie) { for (var i=0;i 0 doc.body.innerHTML.indexOf(c)0) { document.dcdAdsAI.push(fr.hash); fr.style.display =’none’; } } } } } if (document.dcdAdsAI.length 0 || document.dcdAdsAG.length 0) { var pingServerParams = “i=”; var sep = “”; for (var i=0;i 0) { var pingServerUrl = “/action/pingServerAction?” + document.pingServerAdParams; var xmlHttp = null; try { xmlHttp = new XMLHttpRequest(); } catch(e) { try { xmlHttp = new ActiveXObject(“Microsoft.XMLHttp”); } catch(e) { xmlHttp = null; } } if (xmlHttp != null) { xmlHttp.open( “GET”, pingServerUrl, true); xmlHttp.send( null ); } } } function initAds(log) { for (var i=0;i 0) { doc.removeChild(doc.childNodes[0]); } doc.open(); var newBody = fr.body; if (getCurrentOrd(newBody) != “” ) { newBody = newBody.replace(“;ord=”+getCurrentOrd(newBody), “;ord=” + Math.floor(100000000*Math.random())); } else { newBody = newBody.replace(“;ord=”, “;ord=” + Math.floor(100000000*Math.random())); } doc.write(newBody); document.dcdsAdsToClose.push(fr.id); } } else { var newSrc = fr.src; if (getCurrentOrd(newSrc) != “” ) { newSrc = newSrc.replace(“;ord=”+getCurrentOrd(newSrc), “;ord=” + Math.floor(100000000*Math.random())); } else { newSrc = newSrc.replace(“;ord=”, “;ord=” + Math.floor(100000000*Math.random())); } fr.src = newSrc; } } } if (document.dcdsAdsToClose.length 0) { setTimeout(function() {closeOpenDocuments(document.dcdsAdsToClose)}, 500); } } }; var ie = isIE(); if(ie typeof String.prototype.trim !== ‘function’) { String.prototype.trim = function() { return this.replace(/^s+|s+$/g, ”); }; } document.dcdAdsH = new Array(); document.dcdAdsI = new Array(); document.dcdAdsU = new Array(); document.dcdAdsR = new Array(); document.dcdAdsEH = new Array(); document.dcdAdsE = new Array(); document.dcdAdsEC = new Array(); document.dcdAdsAA = new Array(); document.dcdAdsAI = new Array(); document.dcdAdsAG = new Array(); document.dcdAdsToClose = new Array(); document.igCount = 0; document.tCount = 0; var dcOrd = Math.floor(100000000*Math.random()); document.dcAdsCParams = “”; var savValue = getAdCookie(“sav”); if (savValue != null savValue.length 2) { document.dcAdsCParams = savValue + “;”; }

The Sydney Morning Herald

Business

This page updates automatically

Date

June 3, 2013 – 4:25PM

205 reading now

(204)

Comments 90

Australian stocks close deep in the red, with losses led by the big miners and Telstra.

87b87 market chart 420

submit to reddit

Email article

Reprints permissions

4:29pm: And here are the main winners and losers among the top 200 stocks:

Winners and losers today

4:21pm: The materials sector led the losses, down 1.7 per cent after commodities prices slid Friday night and after today’s soft manufacturing data out of China.

Consumer discretionary fell 1.4 per cent, telcos and energy both slid 1.8 per cent and IT plunged 3.3 per cent.

Bucking the trend, the gold sector jumped 3.4 per cent, while financials ended flat.

4:16pm: The stock market has closed at the day’s lows. The benchmark SP/ASX200 index fell 38.3 points, or 0.8 per cent, to 4888.3, the lowest since early February, while the broader All Ords dropped 40.3 points, or 0.8 per cent, to 4873.7.

4:06pm:European stock index futures are pointing to a lower open on concerns about a scaling back of US monetary stimulus and mixed Chinese data.

Futures for the Euro STOXX 50, Britain’s FTSE 100 and Germany’s DAX are down 0.6-0.7 per cent, while contracts France’s CAC have fallen 0.4 per cent.

Meanwhile, Dow and SP futures are up between 0.2 and 0.3 per cent.

3:37pm: Gold has edged higher today, recovering from a near 2-per cent slide in the previous session, as weak US data hurt the greenback and strengthened hopes the Federal Reserve would stick to its bullion-friendly stimulus program.

Spot gold is up 0.6 per cent at $US1394.56 an ounce.

A flurry of disappointing US data including Friday’s report on a decline in US consumer spending weakened arguments for a near-term tapering of the central bank’s bond-buying stimulus.

The US data watch continues this week as the Fed heads for its next policy meeting later this month.

“Everyone is waiting for US non-farm payroll data this Friday to see what the central bank would do,” said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

The Fed has said it would keep up the stimulus campaign until the employment situation improved.

3:30pm: Given the indifferent readings on the Chinese economy, the Australian market initially did not appear to know whether it belonged in positive or negative territory today, CMC Markets trader Tim Waterer says:

However with the severity of the Wall Street loss as well as a sizable decline in the Nikkei today this weighed on the move lower by the ASX200 during the afternoon session.

Declines in key commodity prices set the tone for a fall in the materials sector today and this was able to counter a move higher from the big four banks.

Overall there were just not enough positive drivers for the ASX200 which resulted in a negative start to the new month.

And here’s FP Markets’ Austin Mitchum on HSBC’s Chinese manufacturing data, which came in below expectations:

PMI number really took the steam out of the rally today. Continue to think Resources are vulnerable here and countertrend bounce is done

— Austin Mitchum (@FP_markets) June 3, 2013

3:25pm: What do analysts think of Transpacific’s profit update, as chief executive Kevin Campbell resigns?

Moelis Australia analyst Adam Michell said Transpacific’s disappointing profit update was not really a surprise, as the company – Australia’s largest waste management firm – was hit by the woes in the broader economy:

Given how Transpacific is exposed to the broader economy through its waste management and industrial businesses, an earnings update that disappoints is no surprise.

The company didn’t actual provide any specific guidance for the first-half results, so there was no earnings to downgrade. So what you’ve seen the share price falling by the same amount that earnings expectations were unwound.

Observers will be looking to see if the new chief executive, who has not been appointed yet, will have a different strategic outlook for the company.

Are there any more acquisitions the company might want to do or any divestment? Will there be any strategic shift that might be brought on by a new CEO?

At the moment, the focus is very much on internal efficiencies and gains, and debt control rather than anything major.

Transpacific shares are trading 11.8 per cent lower at 78.5 cents. The stock fell as much as 12.9 per cent today on the two sets of news.

3:12pm: More on wages, Australian Industry Group chief executive Innes Willox said the 2.6 per cent increase was on the high side and will place additional pressure on many employers who are doing it tough.

‘‘An increase of $15.80 per week on the minimum wage … is too high for some employers and will reduce their ability to create new jobs and provide more hours to part-time employees,’’ Mr Willox said in a statement.

He said unions should moderate their wage demands when changes to taxation arrangements, transfer payments and superannuation are on the agenda.

3:05pm: Some interest notes from ANZ research on today’s retail sales figures:

After strong growth in January and February – some of which we suspect reflects a degree of ‘pent up’ demand after weak growth towards the end of last year – growth in retail sales has continued to moderate.

These data do not change our view that the RBA will leave rates unchanged at 2.75% at its meeting tomorrow. Nevertheless, we continue to expect the cash rate to be reduced by a further 25bps later in the year as the RBA decides further assistance is needed to guide the economy toward other areas of growth other than from the mining sector.

While we expect low interest rates to continue to support household spending via higher house prices and significantly reduced household debt-servicing costs, the labour market presents a downside risk to retail sales growth. After improving earlier in the year, job advertising has shown signs of softening again (ANZ job ads fell another 2.4% seasonally adjusted in May), in part driven by a slowdown in labour demand in the mining sector.

Indeed, since the start of the year, the strength in retail sales has been driven by better outcomes in the non-mining states (NSW, Victoria and ACT) while growth has slowed in Western Australia and the Northern Territory.

2:56pm: The winds of change continue to blow through the executive ranks of the resources industry, with ExxonMobil becoming the latest company to appoint new leadership.

The oil and gas giant announced on Monday that Richard J.Owen will become chairman of its Australian operations based in Melbourne.

He will replace John Dashwood, who will return to Houston in the US where he will become Vice President of Exxon’s marketing division for the Americas.

Mr Owen has been with Exxon for more than 30 years and studied at the University of Sydney before joining Exxon’s subsidiary Esso in its Bass Strait oil and gas operations.

His appointment comes just weeks after Royal Dutch Shell announced that its Australian boss, Ann Pickard, would be replaced by Andrew Smith.

2:46pm:Gambling revenue in China’s gambling enclave Macau rose 13.5 per cent in May from a year earlier, boosted by an improving domestic economy and a week of national holidays that spurred visits from wealthy Chinese.

May revenue was 29.6 billion patacas ($3.85 billion), the second-strongest figure this year, according to government data released on Monday. Analysts had forecast a rise of between 12 and 15 per cent for May.

Macau is the only place where Chinese people can legally gamble at casinos in the country.

2:37pm: A look around the region shows most bourses are posting losses:

Japan (Nikkei): -2.6%

Hong Kong: +0.5%

Shanghai: +0.4%

Taiwan: -0.5%

Korea: -0.3%

India: flat

Singapore: -0.35%

New Zealand: +0.9%

‘‘It’s not that we’ve seen a dramatic shift in the Fed’s exit discussion, but investors are using it as an excuse to sell,’’ says Mizuho Asset Management fund manager Masahiko Ejiri. ‘‘Some long positions are being unwound after the market rallied so fast.’’

2:12pm: The Australian economy appears in good, but not great shape, CommSec chief economist Craig James says after today’s data deluge:

Consumers are still spending – particularly if you track the reliable measure of large retailer sales. And companies are making money, with profits up by the most in 18 months.

But businesses are still reluctant to hire staff. Still, this is unlikely to change until the election is out of the road. Arguably not too much is likely to change across the economy until after the election is done and dusted.

As we travel across the country the overwhelming feedback is that investors and businesses want the election to be held now so people can get on with life.

2:04pm: The $15.80 a week increase in the minimum wage is a ‘‘body blow’’ for business, the Australian Chamber of Commerce and Industry (ACCI) says.

While the Fair Work Commission awarded a ‘‘modest’’ increase that was less than last year, ACCI chief executive Peter Anderson says the decision is still excessive.

‘‘Today’s minimum wage decision by the Fair Work Commission is a body blow to Australia’s small and medium business community which do the bulk of employing with Australia,’’ he told reporters.

Anderson said it escalated the wages bill for business by $1.5 billion over the next year.

‘‘This decision is a blunt instrument on the small and medium business community because it does not take into account differential capacities to pay,’’ he said. ‘‘We are disappointed that the commission has failed to provide for differential treatment for those sectors that are under significant economic stress.’’

1:43pm: So much for the brief excursion into the black – the ASX200 is posting losses again.

Financials are still posting strong gains, up 0.8 per cent, and the gold sub-index is rallying 3.5 per cent, but all other sectors are in the red.

Losses are being led by the materials sector, down 1.3 per cent. Telcos have dropped 1.2 per cent and consumer discretionary is 0.9 per cent down.

1:18pm: Diversified real estate investment trust Australand, is defying the general trading trend today with a 0.6 per cent rise to $3.50, writes commercial property editor Carolyn Cummins.

REIT analysts suggest there is some general selling out of the larger trust to raise cash in case an official offer arrives for Australand. The speculation that a new offer may arrive is fueled by the overhang of the majority stake owned by CapitaLand.

The new CEO of CapitaLand has made it clear that he is reviewing its interest in Australand and it’s on the market, for the right price. GPT stepped out of the running last week, and it’s unclear whether the giant Blackstone has any interest left in Australand.

1:06pm: Commenting on the influx of data today, Macquarie senior economist Brian Redican said “It was a disappointing range of data that we saw today.”

“Probably the one bright spot was the rise in company profits in the March quarter, although that was very heavily driven by the rebound in commodity prices and mining profits.”

Mr Redican said while the data was disappointing, it was only modestly lower than what economists expected.

“It’s not going to panic policy makers from doing things differently then they probably would have otherwise done,” he said.

12:52pm: Meanwhile, Telstra shares are down for a fourth straight day, losing 1.3 per cent, as investors worry about dangerous asbestos material discovered in Telstra infrastrcuture and possible legal claims against the company.

The telco giant this morning moved to reassure the market that Telstra doesn’t currently expect to face significant financial liability from asbestos claims.

Telstra CEO David Thodey said in a release to the ASX that the company had been managing the risk of asbestos in its network for many years.

“Telstra has processes for managing claims of any type from employees and the public to ensure that such claims are handled sensitively and expeditiously. We take our responsibilities very seriously in looking after our employees and the community and our highest priority is their safety and peace of mind,” he said.

Telstra share price since the beginning of the year.

12:42pm: The banks have been driving the market higher, offsetting losses among the miners and in Telstra. Here’s how the big banks are doing:

ANZ: +1.8%

CBA: +1.3%

NAB: +2.2%

Westpac: +2.2%

12:30pm: Home prices remain subdued, despite continued strength in auction sales and clearance rates, suggesting the probability of a boom in either house prices or housing credit remains low, ANZ writes in a note commenting on the 1.2% drop in the RP Data-Rismarck home values index:

Nonetheless, tightening market fundamentals and improved home purchase affordability should provide increasing support to home prices in the year ahead.

Low rental vacancies in most capital cities continue to drive rents higher, which combined with an extended period of low interest rates, should increasingly attract first home buyers and investors to the property market.

Investor and upgrader demand have already strengthened sharply. In contrast, first home buyer demand remains subdued (in part due to the removal of state government incentives). Rising unemployment and heightened job security concerns could continue to weigh on this segment.

Household caution and reduced debt appetite will limit home purchase demand and with the unemployment rate expected to drift higher, job security concerns will continue to weigh on sales and prices, particularly in certain states (Victoria, Tasmania, South Australia and ACT).

12:17pm: Australia’s 1.5 million lowest paid workers will get a $15.80 a week pay rise, less than last year.

The national minimum wage will rise to $622.20 a week, from $606.40 currently, the Fair Work Commission ruled today. That’s an extra 41 cents an hour.

It is less than the $30 a week increase sought by unions but more than the $5.80 wanted by business groups. Last year the national minimum wage rose by $17.10 a week.

12:13pm: It will be surprising but not shocking if there’s another rate cut tomorrow before any indication of what impact the currency movement might have, Michael Pascoe says in his video on the week ahead.

Click to play video

Featured comment:

A cut tomorrow would signal to the world just how weak our economy has become. We could expect a nice drop in the aud and hence a nice rise in shares heavy in usd. Aus shares would be cheaper to overseas investors and that may see a reversal in the flow of overseas currencies. the list goes on. So I reckon it would be crazy to cut again so soon.

Commenter
Bearly Gruntled

Location

waiting for an 88 cent dollar

Date and time

June 03, 2013, 1:31PM

Oh my… downnnnn she goes! Was this the last Hurrah!?

Commenter
Liberator

Location

SEQLD

Date and time

June 03, 2013, 3:23PM
- there you go lib, your wish has been granted.
  
  Commenter
  guddoo
  
  Location
  
  CBD
  
  Date and time
  
  June 03, 2013, 3:38PM
- After 12pm – and a look over the trading of the afternoon. Linear volume and nearly no deviation from the downward trend line. Bot trading at it’s very finest!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 4:30PM

If I don’t look at my share prices today, then they haven’t really fallen. Will log back into Commsec in 3 months when all will be well again

Commenter
Bullish

Location

Date and time

June 03, 2013, 2:52PM
- yes, put your head in the sand and the worlds problems will just disappear .
  
  Exit losing positions before EoFY for the tax benefits, come back and buy in October
  
  Commenter
  worried33
  
  Location
  
  Date and time
  
  June 03, 2013, 3:49PM

China’s economic growth forecast has been reduced to 7.75% that is still 7 times everybody else in the world..
Does that mean the Australian Mines have to meet current demands + an additional 7% in future. If so then there is no end to the mining boom.until china’s growth goes negative

Commenter
Ned101

Location

Sydney

Date and time

June 03, 2013, 2:43PM
- Wrong. Other up and coming mining nations are going to flog Australian back to the stone age. Africa already being primed by China for massive investment. We will go from the meat in the sandwich to just the lettuce…
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 2:49PM

Only 30 minutes to go before we start heading UP, ASX may finish flat today

Commenter
little-big-man

Location

Date and time

June 03, 2013, 2:37PM
- nice prediction
  
  Commenter
  worried33
  
  Location
  
  Date and time
  
  June 03, 2013, 4:04PM

People can’t get on with life because an election is happening at a time we know and with a known result! Perhaps they need to pull themselves together. This is utter nonsense.

Commenter
bruiser

Location

Date and time

June 03, 2013, 2:26PM

“The glut of US gas is threatening to choke off further expansion of the local gas export sector, beyond what is already under construction.”

www.theage.com.au/business/us-shale-glut-changes-coal-export-game-20130531-2nhgq.html#ixzz2V7fpL2N6

Last pin in the resources boom being pulled out. Yikes! What will that do to house prices?

Commenter
Allan

Location

Prahran

Date and time

June 03, 2013, 2:08PM

FENG MIA?

Commenter
alfa75

Location

Date and time

June 03, 2013, 1:54PM

Gold was down this morning. Any idea why KCN(14%) and NCM(4%) are up.

Commenter
xyz

Location

Melbourne

Date and time

June 03, 2013, 1:51PM

Cochlear is 15% down today seems highest downfall in a day in memories, nothing has been mentioned in todays’ blog. How can SMH can leave this message and to give reason for such a downfall. It is still falling. What the hell is going on with this Australian innovation company?

ED: Profit warning: http://www.smh.com.au/business/cochlear-shares-dive-after-profit-warning-20130603-2nkvk.html

Commenter
marsup

Location

Date and time

June 03, 2013, 1:44PM

Wealthy baby boomers are snapping up apartments across Sydney to bolster their self-managed super funds, helping to dash the hopes of frustrated first home buyers.
http://smh.domain.com.au/real-estate-news/boomers-put-super-squeeze-on-first-home-buyers-20130601-2nihw.html

But then it goes on to say “…With the government incentives gone, parents paying at least part of the deposit is the only solution for many.”

So wealthy baby boomers are alright after all. We are saving the government $billions in pension payments, and helping the young generation into their first homes. Baby boomers just keep giving and giving, unlike the younger generation who just keep taking

Commenter
HappyBabyBoomer

Location

Date and time

June 03, 2013, 1:33PM

- Then you might need to ignore the below as it doesn’t fit with your theme.
  
  http://www.businessspectator.com.au/article/2012/9/25/australian-dollar/time-shut-down-our-oldest-tax-dodge
  
  Commenter
  Opinion Only
  
  Location
  
  Melbourne
  
  Date and time
  
  June 03, 2013, 2:12PM
- As our dollar devalues our R/E becomes cheaper for overseas investors. On the news today that something like 10-20% of Sydney R/E is being bought by cashed up overseas buyers. Did someone mention a bubble?
  
  Commenter
  Bearly Gruntled
  
  Location
  
  waiting for an 88 cent dollar
  
  Date and time
  
  June 03, 2013, 2:24PM
- Opinion – Holding $50k so they can get some benefits? That’s laughable. So what happens when the $50k runs out ? Unfortunately a few bad apples give us baby boomers a bad name. Lock the fraudsters up, no matter which generation they come from!!!
  
  Commenter
  HappyBabyBoomer
  
  Location
  
  Date and time
  
  June 03, 2013, 3:01PM
- HappyBboomer … so your happy creating a society of haves and have not’s just like the deluded govt that are themselves baby boomers .. most people I know don’t have parents who live on the north shore and are going to hand their siblings a handy 100k to help them obtain an inflated mortgage! … wrapping property into smsf is a crime along with the negative gearing policy another failed govt policy that is now 20 years out of date! .. potentially going to be allot of resentful gen x,y and z’s leaving baby boomers to push their own wheelchairs that’s for sure if it continues .. just saying!
  
  Commenter
  Roguetrader
  
  Location
  
  Date and time
  
  June 03, 2013, 4:08PM

I wonder if Telstra have any 457 visa workers tinkering around in those asbestos pit?

Better sack them before their 2 year sponsorship is up have them deported… no compo claims

Commenter
GS

Location

Date and time

June 03, 2013, 1:32PM

I think the opportunity for growth in China is diminishing.

What are people’s thoughts on the possibility of Africa driving future growth as it develops?

The northern half of the continent is buggered, and SA is a mess, but in quite a few other southern African countries there have been solid growth rates for a number of years now. I think the continent’s unsustainable population growth will pose problems, but I think there are grounds for optimism.

Commenter
Fred

Location

Date and time

June 03, 2013, 1:17PM

I don’t understand why so many think the RBA won’t cut. The world economy is still slowing and all the eco data suggests slowing conditions and low inflation. While the RBA is concerned with inflation, it is also concerned with aggregate demand which is clearly slowing. A drop in rates will really help the non-mining economy and I fail to see a reason why they won’t cut. That said, I’m still 50/50 that they will this week.

Commenter
Life IS Good

Location

The Real World

Date and time

June 03, 2013, 1:07PM

Yes, RBA cut interest rate. When it get almost to zero%, then start QE, We will follow US and Japan. All stuffed up.

Commenter
FromTheEast

Location

Date and time

June 03, 2013, 12:56PM
- Do you know of another way to get us to a competitive exchange rate in a world of ZIRP and QE?
  
  Commenter
  Opinion Only
  
  Location
  
  Melbourne
  
  Date and time
  
  June 03, 2013, 1:11PM
- Unlikely that RBA will cut rates tomorrow. Hence we may see a stronger aud, (a brief interuption to its current weakening).
  
  Commenter
  Bearly Gruntled
  
  Location
  
  waiting for an 88 cent dollar
  
  Date and time
  
  June 03, 2013, 2:15PM

Headline should read……………..”Stocks rise on soft econmoic data”.

Commenter
geoff

Location

burraneer

Date and time

June 03, 2013, 12:15PM
- No rise today I’m afraid. The BEARS ARE BACK!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 1:55PM
- ……and the FALL!!
  
  Commenter
  thrillseeker
  
  Location
  
  Date and time
  
  June 03, 2013, 1:55PM

COH still trading at high PE. Headwinds ahead from China copies competition failure to implement a sound hedging policy. CEO C Robers asked if he was buying COH at these prices. Doesnt answer question. Ringing endorsement for shorters of stock.

Commenter
Seb Gonzo

Location

New Farm

Date and time

June 03, 2013, 12:06PM
- Writing was on the wall months ago, Are we so blind to HEAR!!
  
  Commenter
  jacee
  
  Location
  
  Date and time
  
  June 03, 2013, 12:36PM

“Heather Simmers turned 102 years of age this week. When she was 98, Westpac signed her up for a 30-year mortgage”

www.theage.com.au/business/why-youre-never-too-old-for-the-banks-20130531-2nhi7.html#ixzz2V79F4FQU

“There is not one clean LAF among my 1200 members.”

www.theage.com.au/business/missing-pieces-in-a-lowdoc-lending-trail-that-shattered-lives-20130602-2njyk.html#ixzz2V79p6GuN

“It took nearly 16 months before the regulator was forced to act against serious flaws at Commonwealth Bank’s financial planning unit”

www.theage.com.au/business/profit-above-all-else-how-cba-lost-savings-and-hid-its-tracks-20130531-2nhde.html#ixzz2V7AC8Trr

Oh dear it seems not everything is kosher with the banks like we were led to believe.

Commenter
Allan

Location

Prahran

Date and time

June 03, 2013, 12:01PM

If the Reserve Bank is going to further cut rates this year then tomorrow will be no exception.

Commenter
Reserve Bank

Location

Sydney

Date and time

June 03, 2013, 11:53AM
- true, but the dills wont have the guts to do it 2moro
  
  Commenter
  alfa75
  
  Location
  
  Date and time
  
  June 03, 2013, 12:14PM
- A cut tomorrow would signal to the world just how weak our economy has become. We could expect a nice drop in the aud and hence a nice rise in shares heavy in usd. Aus shares would be cheaper to overseas investors and that may see a reversal in the flow of overseas currencies. the list goes on. So I reckon it would be crazy to cut again so soon.
  
  Commenter
  Bearly Gruntled
  
  Location
  
  waiting for an 88 cent dollar
  
  Date and time
  
  June 03, 2013, 1:31PM
- More excitement than Groundhog Day.
  
  Commenter
  The Oracle
  
  Location
  
  Oberon
  
  Date and time
  
  June 03, 2013, 1:36PM
- It still needs to be done. Australia is slowing up really quickly, we need increased investment and we need it soon. It takes over 6 months for rate cuts to have an effect on the economy, if they wait til august or september to cut rates, we won’t see the effects til feb/march ’14 way too far down the track IMO. The drop in the AUD only helps so much, there is still a lot of employment amongst domestic businesses who won’t benefit much from the fall until our international companies start gaining a bit of speed which could again be 8-12 months away.
  
  Commenter
  Andrew137
  
  Location
  
  Date and time
  
  June 03, 2013, 3:29PM
- They should have cut by 1/2 % as I suggested before last month’s drop.
  It would have saved a lot of “What will they do tomorrow?” because they would have
  done it, and by now all these economic gurus with memory spans of gnats would
  over the shock.
  Please note some of the bloodsuckers have since dropped some of their rates
  ever so little since then. You can bet your bottom $ they know what’s in store tomorrow.
  
  Commenter
  pest from the west
  
  Location
  
  Date and time
  
  June 03, 2013, 3:29PM

thought it would take a few more weeks, but the bulls (incredibly) are already taking control of the financials!

the plane.. the plane!

Commenter
alfa75

Location

on fantasy island with the midget

Date and time

June 03, 2013, 11:24AM
- one day does not make a trend
  
  Commenter
  GavBT
  
  Location
  
  Date and time
  
  June 03, 2013, 12:31PM
- true gav
  
  Commenter
  alfa75
  
  Location
  
  Date and time
  
  June 03, 2013, 1:13PM

The old ‘reverse Jonaze trick” eh?

Commenter
geoff

Location

burraneer

Date and time

June 03, 2013, 11:23AM

Second Wave of material sector boom just around the corner. US and Europe economies will start to take off, increasing demand for Chinese manufacturing, causing China growth past 10%. When China grows at that pace, our mining goes into overdrive. Hold on to your hats

Commenter
CliveRinehart

Location

Date and time

June 03, 2013, 11:19AM
- Laughable. The US and Europe (and Japan) are in so much debt that they only place they’ll be going to is the floor.
  
  China has reaached its limits. It now has to deal with the consequences of its shrinking labour force and ageing population.
  
  Big Gina will be getting a job stacking boxes at woolies.
  
  Commenter
  Fred
  
  Location
  
  Date and time
  
  June 03, 2013, 12:47PM
- I think your on to something ! .. don’t tell anyone though!… Superman and good ole Uncle Sam will save the day yet again! .. just like the movies! ..with the slogan .. didn’t we tell you so and don’t do this at home kids! … cant wait and for the next 14 year housing rally that follows it:-)
  
  Commenter
  Roguetrader
  
  Location
  
  Date and time
  
  June 03, 2013, 12:51PM

I see the NZ market is doing better than us today.

Commenter
Jonaze

Location

Sydney

Date and time

June 03, 2013, 11:16AM

Early days but finding it hard to follow how NCM can drop like a plugged duck to 10.30am than soar like a magnificent swan by 11am.

Commenter
Bearly Gruntled

Location

waiting for an 88 cent dollar

Date and time

June 03, 2013, 11:09AM

thank god may is done with ;-}

Commenter
alfa75

Location

Date and time

June 03, 2013, 11:01AM
- hey alfa – might be a better day for some. I got run over by a bull this morning early! Why are their bulls roaming the paddock anyway – I thought we shot the last of the mangy ones that Indonesia did not want!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 11:47AM
- Poor alfa,
  did you see my SLR today?? up up all the way!
  LoL.
  
  Commenter
  wil Feng
  
  Location
  
  melb
  
  Date and time
  
  June 03, 2013, 12:39PM
- I’ve no idea why still roaming lib. I thought (and was hoping) they’d been killed off for at least a month or two… we’ll see.
  
  Commenter
  alfa75
  
  Location
  
  Date and time
  
  June 03, 2013, 12:57PM
- hahaha look who’s back bragging about a stock he most likely sold on thursday..buffets mate wil.i.am.
  
  how much did ya make fengsta?
  remember you gotta bet big if ya wanna win big mr feng…you genius nfi you.
  
  Commenter
  alfa75
  
  Location
  
  the twilight zone
  
  Date and time
  
  June 03, 2013, 1:17PM

Mkts at last starting to reflect reality. Mkts got ahead of themselves. Europe, Japan in turmoil. USA one step fwd one step back. China questionable. Domestically regulatory political risk to the fore with union pressure increasing costs. Reporting season to see any profit increases from cost cuts not revenue increases. No wonder $Aus is dropping. Confession session should be added pressure on ASX.

Commenter
Seb Gonzo

Location

Sherwood

Date and time

June 03, 2013, 11:01AM

Cochlear is a falling sword, yes?. Anyone game enough to call the bottom? My best hunt is buy at low $40′s . Not sure even at that price what possible downside. Sleep better with CSL!!

Commenter
jacee

Location

Date and time

June 03, 2013, 10:58AM
- Especially if you turn your hearing aid off !
  
  Commenter
  Jonaze
  
  Location
  
  Sydney
  
  Date and time
  
  June 03, 2013, 11:05AM

Don’t believe that Chinese figures will save the day again.

Chinese figures are boy crying wolf stuff…..impossible to take seriously.

Commenter
The Oracle

Location

Oberon

Date and time

June 03, 2013, 10:50AM
- Well are you.
  
  Commenter
  Are you Short
  
  Location
  
  Sydney
  
  Date and time
  
  June 03, 2013, 11:12AM
- Only take them seriously if they are bad.
  If they are good,,,,ignore them,,,they must be unreliable.
  
  Commenter
  Chumlee
  
  Location
  
  Date and time
  
  June 03, 2013, 11:59AM
- Agreed. Several articles have been published indicating the way figures get manipulated as per the requirement of the day.
  
  Commenter
  xyz
  
  Location
  
  Melbourne
  
  Date and time
  
  June 03, 2013, 12:24PM

Oh dear SDL dropped to 8.8c. Like I’ve been saying for a couple of years, iron ore is not rare and the Chinese aren’t going to build a railway across half of Africa.

Hope you didn’t pay morte than 8c for it.

Commenter
Allan

Location

Prahran

Date and time

June 03, 2013, 10:33AM
- Allan – I have buy order at 5c. Just in case it takes a dive. I would expect a new offer from China in a dodgy deal at around 12-15c for take over. Just a punt. Nothing wrong with numbers.
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 11:51AM

Look like TLS is geting hammered because of asbestos claim

Commenter
Sams

Location

Melbourne

Date and time

June 03, 2013, 10:31AM
- Don’t they have insurance?
  
  Commenter
  Chumlee
  
  Location
  
  Date and time
  
  June 03, 2013, 12:00PM

“The better-than-expected Chinese manufacturing data released on Saturday should lift local mining stocks when the market opens “

-1.5% is not a lift.

Shorters are rejoicing. Where are you five, Pete?

Commenter
Allan

Location

Prahran

Date and time

June 03, 2013, 10:31AM

out 10.18 am 4905. Too easy. Long makes money too. Have a nice day. Engine fire again for me.

Commenter
got brain

Location

Date and time

June 03, 2013, 10:19AM

“…should lift local mining stocks when the market opens”

Nup they’s running for the banks

Commenter
The Not-So-Magic Roundabout

Location

Date and time

June 03, 2013, 10:19AM
- How do you pick it if he can’t ?
  
  Commenter
  Experts
  
  Location
  
  Sydney
  
  Date and time
  
  June 03, 2013, 10:39AM

The manufacturing data is expected to be strong. 4920 is achievable today. Don’t short the market.

Commenter
guddoo

Location

CBD

Date and time

June 03, 2013, 10:14AM
- You are genius
  But my view is that the downward pressure is still having some momentum. The banks are going to be a bit lower given the AUD is going to be keep dropping.
  
  Commenter
  AnotherAngle
  
  Location
  
  Date and time
  
  June 03, 2013, 11:59AM
- Off course, its not going to keep moving upwards. Downwards is the only other option available so thank you for enlightening us with your valuable insight.
  
  Commenter
  guddoo
  
  Location
  
  CBD
  
  Date and time
  
  June 03, 2013, 12:21PM

Option market makers on holiday? Very strange

Commenter
igroki

Location

Date and time

June 03, 2013, 10:13AM

I notice not only does the market seem to lose at 10.10 it loses more at 4.00 than it makes in the whole day. Are you kidding. When was the last time the ASX lost 17 points on the close?

Commenter
ASX Not Making Sense

Location

Sydney

Date and time

June 03, 2013, 10:12AM

Woo hoo. Cochlear COH down six bucks!

Commenter
Gordon Gekko

Location

Date and time

June 03, 2013, 10:12AM
- with expected $100-$130m profit, still very overvalued. In a downtrend for the last 3 weeks, tread carefully…
  Good buying under $50 though!
  
  Commenter
  worried33
  
  Location
  
  Date and time
  
  June 03, 2013, 10:44AM
- when the “short” sighted start to sell, its time to buy
  
  Commenter
  HearingAid
  
  Location
  
  Date and time
  
  June 03, 2013, 10:47AM
- hope you didn’t buy, wait until the dust settles before going in…
  
  Commenter
  worried33
  
  Location
  
  Date and time
  
  June 03, 2013, 3:43PM

Even Cochlear’s customers can hear the share price crashing back down to Earth!

Commenter
GS

Location

Date and time

June 03, 2013, 10:10AM
- So it didn’t fall on deaf ears ?
  
  Commenter
  The Oracle
  
  Location
  
  Oberon
  
  Date and time
  
  June 03, 2013, 10:51AM

Taking a punt today – Short at 4897. O/S news Friday-Sun was bad in my view. See how this plays out in to today’s market.

Commenter
Liberator

Location

SEQLD

Date and time

June 03, 2013, 10:10AM
- and before i go, nice work on Friday Lib. How many months of wage did you make ? LOL
  
  Commenter
  got brain
  
  Location
  
  Date and time
  
  June 03, 2013, 10:53AM
- Friday – about 2 weeks average wages on the gain. Today is a loss so far of 1 weeks average wages!!! Nothing wrong with numbers mate. See how we go by 4pm!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 11:27AM
- Fall! Down! Come back to even on the short! The bulls got loose, are now being rounded up and put back in the pen, ready for the gun!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 1:52PM
- Lean beef is the healthiest, boneless beef even better.
  
  Commenter
  Bearly Gruntled
  
  Location
  
  waiting for an 88 cent dollar
  
  Date and time
  
  June 03, 2013, 2:26PM
- Back in the money! Finally. What a dodgy looking day. Pump and dump – it looks like a hump! Stops placed in case of late reversal. See what 4pm and shut down brings!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 2:54PM

Two months ago Chinese PMI came out, disappointed, and our market dropped over 100 points that day. One month ago Chinese PMI data came out, disappointed, and our market dropped over 100 points. Now Chinese PMI numbers are out, better than expected, so what’s going tp happen today do you think?

Commenter
ASX Form

Location

Sydney

Date and time

June 03, 2013, 10:01AM
- Nothing. Chinese stats are too rubbery to be relied on and everyone has suddenly woken up to it. Better to look at coking coal, iron ore, copper and steel prices to determine trends.
  
  Commenter
  Jim Jones
  
  Location
  
  Date and time
  
  June 03, 2013, 12:33PM

got a sim session again but let’s try the bragging game. 7 contracts at 4877 this morning at 8.05am .

Commenter
got brain

Location

Date and time

June 03, 2013, 10:00AM
- Yep brain that is nice move – market took a dive after close Friday. A long before the open was a good choice this morning. I went short after open see how we go by 4pm today. Some more news to come out.
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 10:36AM
- Shorting right now at 4930 is not bad, a few dips would pay off definitely.
  
  Commenter
  guddoo
  
  Location
  
  CBD
  
  Date and time
  
  June 03, 2013, 12:23PM
- libs ..theres a bear in the woods ..shot em!
  
  Commenter
  Roguetrader
  
  Location
  
  Date and time
  
  June 03, 2013, 12:25PM
- Bears should be protected!
  
  Commenter
  Liberator
  
  Location
  
  SEQLD
  
  Date and time
  
  June 03, 2013, 1:13PM

Would you like to comment?

You will need Javascript enabled to use our Commenting Feature.

Make a comment

You are logged in as Logout]

All information entered below may be published.

Thank you

Your comment has been submitted for approval.

Comments are moderated and are generally published if they are on-topic and not abusive.

Video

Shane Kelly’s memory lane

Smh.com.au

Entertainment and Red Carpet

Latest Sports videos

Life and Style essentials

Jobs

Search for 1000s of jobs around Australia

Mycareer.com.au

Search for a new job

Set up an email job alert

What are you worth?

Real Estate

Win $20,000 towards your home loan!

Smh.com.au

Buy real estate

How much is my house worth?

Euro investors eye market

Holiday Rentals

Last minute weekend getaways

Stayz.com.au

Gold Coast getaways

Holiday on the South Coast

Pet-friendly rentals

Find A Babysitter

Quality care for your little rugrats- find a nanny today!

Findababysitter.com.au

Sydney Child Care

Canberra Child Care

Port Macquarie Child Care

Compare and Save

Skip to:

Best Deals

Mobile

Broadband

Home Loans

Credit Cards

Low Rate Cards

Rewards Cards

Savings Accts

Term Deposits

Loans

Check out today’s best deals

‘,

“link”: “http://media.smh.com.au/national/selections/rate-cut-on-the-horizon-4459475.html”

},

“timeslidertooltipplugin-2″: {}

},

“skin”: “http://resources.smh.com.au/common/media-common-1.0/swf/jwplayer/nacht.zip”,

“width”: 620

}, {

“ga”: {

“channel”: “Business”,

“duration”: “240″,

“headline”: “Rate cut on the horizon?”,

“referrer”: “”,

“playerType”: “Article”,

“showName”: “Business Week”

}

,

“nielsen”: {

“brand”: “smh”,

“cg”: “fairfax-business”,

“c6″: “c19″,

“duration”: “240″,

“ou”: “video/business/business-week”,

“vc”: “vc-smh-Video_Business-Article-Video_Business_Week-The_Age_Selections-Tessa_Stevens,_Chee_Wong-4459475-Rate_cut_on_the_horizon?-00:04:00″

},

“cxense”: {

“acc”: “9222289450909506992″,

“sid”: “9222289450909506993″,

“contentId”: “dcds_4459475″,

“loc”: “http://media.smh.com.au/national/selections/rate-cut-on-the-horizon-4459475.html”

},

“collector”: {

“system”: “DCDS”,

“brand”: “smh”,

“section”: “Video Business”,

“assetId”: “4459475″,

“title”: “Rate cut on the horizon?”,

“assetType”: “Video”,

“assetUrl”: “http://media.smh.com.au/national/selections/rate-cut-on-the-horizon-4459475.html”

}

}));

})();

})();

Markets Live: Shares at day"s low

singapore hotel

Thứ Hai, 3 tháng 6, 2013

Markets Live: Shares at day"s low

Business

Không có nhận xét nào:

Đăng nhận xét

Thứ Hai, 3 tháng 6, 2013

Markets Live: Shares at day"s low

Recommended

Featured comment:

Would you like to comment?

Make a comment

Thank you

Your comment has been submitted for approval.

Compare and Save

Check out today’s best deals

Không có nhận xét nào:

Đăng nhận xét