Market Herald logo


Be the first with the news that moves the market

It’s been six days since the ASX was ravaged by fears of an erupting trade war between the U.S. and China.

The media and shareholders scrambled after President Donald Trump discussed further tariffs on products between the American homeland and the Eastern giant.

Since then, the ASX has undergone a rollercoaster of share prices which left Aussie kings BHP and Caltex looking beaten and bloodied last week.

The ASX 200 is still tumbling down from last Friday, reduced by 50.4 points – a decrease of 0.8 per cent.

This reduced ASX 200 rides a wave of reduction from America, which opened trading with Dow Jones immediately plunging 589 points.

Over in the east, the Asia Dow is teetering on a 0.07 per cent increase.

Back in Australia, the utilities sector has taken the largest hit, trading 3.47 per cent lower.

Just like last week, banks have taken a heavy blow. ANZ is down 1.23 per cent, alongside Commonwealth Bank trading lower at an even one-per cent reduction.

The energy sector is clinging on to trade even, with the whole sector trading at a 0.25 per cent decrease. At the bottom, APA Group is showing a 1.57 per cent reduction in share pricing.

However, some of the largest traders are surprisingly showing hopes of redemption amid a sea of red.

Showing green across the board are communications up 0.2 per cent, materials up a stronger 0.52 per cent, consumer discretionary up 0.44 per cent and health care is breaking even.

BHP is up 0.48 per cent, Caltex up 0.27 per cent, Dexus up 0.31 per cent and Telstra is up 0.64 per cent.

Ahead of the pack are high-performers South32, NewCrest Mining, Mirvac and Fortescue Metals.

South32 is towering at a 2.17 per cent premium. NewCrest is not far behind, up 1.77 per cent. Fortescue is trading 2.06 per cent higher.

Leading the team of happy traders is Mirvac, trading at an impressive 2.51 per cent increase.

The American dollar and GBP are both up today, 0.03 per cent and 0.04 per cent respectively. While the Euro is down 0.03 per cent.

What’s hot and what’s not

Hot today: Energy specialist Orocobre Mining is trading 5.08 per cent higher with shares sitting at $2.69 a piece.

This jump in share pricing comes two days after the company opened up a Japan-first lithium purifying setup to boost renewables in the automotive industry – a collaboration with Toyota.

Breville Group, who probably have a few appliances in your kitchen, are just behind Orocobre with a 3.35 per cent uptake for shares showing $18.21 each.

Not today: AGL Energy is among the biggest traders with its tail between its legs down a whopping six per cent. The company’s shares are trading for $18.80 each, compared to yesterday’s close of an even $20 a piece.

Following AGL in today’s biggest losers are names that don’t pop up often – due to the energy and mining sectors performing well.

Treasure Wine Estates is 4.41 per cent in the red, Insurance Australia is down 4.08 per cent and Clinuvel Pharmaceuticals is 3.27 per cent lower.

For commodities oil is up an impressive 3.05 per cent beating gold, which is trading lower by 0.65 per cent.

More From The Market Herald
The Market Herald Video

" ASX Close: Tech, miners steer index to best close of month

A bright final session sealed a second straight weekly advance for the ASX as the repair-work continued following last month’s slump.

" ASX Update: Market leaks early gains as dollar rises

Australian shares pushed towards a second straight winning week after Wall Street logged its biggest advance since March.

" ASX Today: Wall Street’s best night since March

A strong start to a new US earnings season points to a second day of gains for Australian stocks.
The Market Herald Video

" ASX Close: October high as jobs market weathers lockdown

The share market continued to put the September blues behind it, rising to its highest level of the month after employment data showed