News

​Global markets ​added to gains overnight as US market notched fresh record highs​, ​as data pointed to a resilient ​US domestic economy​.​

Wall Street ended the week on a positive note, with optimistic comments from both Xi Jinping and Donald Trump on efforts to bridge their trade differences.

Tensions in HK continue to escalate, which saw Asian markets down significantly yesterday.

Global markets sold off overnight, as reports that the US and China are unlikely to reach a trade agreement this year saw markets extend losses.

Global markets were mixed overnight as shares on Wall Street hovered around record levels after Washington’s move to grant an extension for US companies to do business with China’s Huawei helped ease some concerns around US-China trade relations.

Closer to home, the ASX rallied yesterday after minutes from the last Reserve Bank of Australia (RBA) meeting showed the RBA considered cutting the cash rate at its November meeting,

Heading into the ​end of the year, a Xmas period rally in shares​ could be possible. While we would not want to attempt to read Trump’s mind, we note it is worth keeping in mind President Trump is looking to win an election next year.

NZ shares fell after the Reserve Bank surprised investors by keeping the official cash rate at 1.0%, with dividend paying “bond proxy” stocks taking a hit.

Closer to home, a surprise increase in the unemployment rate supported gains on the Australian market yesterday – with the market tipping another interest rate cut by the Reserve Bank of Australia was likely in the next six months.