Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


Stocks Warning Sounded By Aussie Exchange Head

The chairman of the Australian Stock Exchange is warning that narrow trade on soaring global markets is a sign they could "implode" soon. John Howard reports.

ASX chairman, Maurice Newman, has told an Australia-Israel Chamber of Commerce audience, that the overheated US markets are like the other boom and busts on the sharemarkets in the past.

"All of us in Australia have got a sense of deja vu, we've had a few of these cycles over the past 50 years," Mr Newman said.

"The breadth of the market is getting narrower and narrower. It's really only a handful of companies driving the Dow Jones, S&P and Nasdaq and ultimately that sort of narrowness implodes on its own weight," Mr Newman told the Chamber.

"All markets regress to the norm and the norm is nowhere near where it should be in the US markets."

He said US company evaluations had been "stretched" with Australian companies overvalued to a lesser extent.

The all ordinaries revisited its June 20 record high during trading on Monday, recording its second highest close at 3133 under the influence of the top five stocks in the index.

Looking to Asia's economic recovery, Mr Newman said the "jury was still out on the Asia crisis" while Japan poured money into failing banks and "one off" projects.

"I'm also concerned that they're trying to sterlise the money supply by keeping it at a level the market can't support," Mr Newman concluded.

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Living With Rio’s Olympic Ruins

Mariana Cavalcanti Critics of the Olympic project can point a discernible pattern in the delivery of Olympics-related urban interventions: the belated but rushed inaugurations of faulty and/or unfinished infrastructures... More>>

Live Blog On Now: Open Source//Open Society Conference

The second annual Open Source Open Society Conference is a 2 day event taking place on 22-23 August 2016 at Michael Fowler Centre in Wellington… Scoop is hosting a live blog summarising the key points of this exciting conference. More>>

ALSO:

Buildup:

Gordon Campbell: On The Politicising Of The War On Drugs In Sport

It hasn’t been much fun at all to see how “war on drugs in sport” has become a proxy version of the Cold War, fixated on Russia. This weekend’s banning of the Russian long jumper Darya Klishina took that fixation to fresh extremes. More>>

ALSO:

Binoy Kampmark: Kevin Rudd’s Failed UN Secretary General Bid

Few sights are sadder in international diplomacy than seeing an aging figure desperate for honours. In a desperate effort to net them, he scurries around, cultivating, prodding, wishing to be noted. Finally, such an honour is netted, in all likelihood just to shut that overly keen individual up. More>>

Open Source / Open Society: The Scoop Foundation - An Open Model For NZ Media

Access to accurate, relevant and timely information is a crucial aspect of an open and transparent society. However, in our digital society information is in a state of flux with every aspect of its creation, delivery and consumption undergoing profound redefinition... More>>

Keeping Out The Vote: Gordon Campbell On The US Elections

I’ll focus here on just two ways that dis-enfranchisement is currently occurring in the US: (a) by the rigging of the boundary lines for voter districts and (b) by demanding elaborate photo IDs before people are allowed to cast their vote. More>>

Ramzy Baroud: Being Black Palestinian - Solidarity As A Welcome Pathology

It should come as no surprise that the loudest international solidarity that accompanied the continued spate of the killing of Black Americans comes from Palestine; that books have already been written and published by Palestinians about the plight of their Black brethren. In fact, that solidarity is mutual. More>>

ALSO:


Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news