Scoop has an Ethical Paywall
One step back
9.30 am AEST Thursday, 29 December 2016
One step back
By Michael McCarthy (chief market strategist, CMC Markets)
After several recent steps forward Asia Pacific markets may come under selling pressure today following negative overnight leads. US indices pulled back from all-time highs, and currencies and commodities largely marked time as professional investors tweaked market exposures.
A flat sectoral performance in New York suggests the selling that prevailed throughout the session was top-down and index based. This indicates concern about the broader market outlook trumped individual stock issues. Local futures markets are pointing to opening losses of around a 0.5% across the region. South Korean industrial production and Hong Kong trade data could affect trading but are unlikely to change the global dial.
The Australian share market reached its high for the year yesterday as buyers scrambled among thin volumes. The volatility index rose. There is potential for a fluky day’s trade, and year end buying could see a U-turn after initial weakness, especially if investors focus on the further lift in iron ore prices overnight.
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
Asia Pacific AML: NZ’s Financial Crime Gap - Beyond The 'Number 8 Wire' Mentality
Westpac New Zealand: Kiwi Households Adapting Despite Widespread Cost Pressure Concerns, Westpac Survey Shows
University of Auckland: Kids’ Screen Use Linked To Long-Term Deficits In Self-Control And Attention
University of Auckland: Research To Address Equity In STEM For Māori, Pacific And Female Students
