Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Australian investors influenced by China’s manufacturing

09.36 AEDT, Friday 25 January 2013

Australian investors more influenced by China’s manufacturing than Apple resultstralian

By Ric Spooner (Chief Market Analyst, CMC Markets)

The Australian market is likely to maintain a firm tone today. Apple’s disappointing sales results were the main negative factor for US indices overnight but this is unlikely to worry local investors too much. Broader economic statistics released over the last 24 hours, including China’s PMI and US jobless claims did nothing to disturb the consensus view of an improving, although moderate economic growth outlook.

To some extent, reports of disappointing iPhone sales are a barometer of international consumer caution. However, iphone sales also potentially reflect Apple’s competitive position within the sector and some saturation as the smart phone market approaches maturity.

Microsoft’s results, released after the market closed will provide investors with some comfort that demand in the overall IT sector is in reasonable shape. The strong performance of Apple and the tech sector which has a low weighting in the Australian index was one of the factors behind the local market’s underperformance throughout much of 2012. In the current circumstances the lack of major tech stocks may help our market outperform.

While investors are likely to continue chasing yield, we may see some book squaring from short term traders later in the day. Traders are often more inclined to square positions prior to a long weekend rather than stay in the market for two US and European trading sessions before the local market re- opens.
ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news