News

Australian shares soared to an 11-year high on Monday, as investors welcomed the surprise re-election of the Coalition, adding an extra $32.8 billion to the ​ASX market index value.

Closer to home, there was a hugely unexpected result in Australia’s federal election over the weekend with the Liberal-National coalition winning and returning to power.

In this weeks podcast, Jeremy ​interviews Asantha Wijeyeratne, the CEO of PaySauce (PYS), one of the NZX’s newest public companies.

There was optimism overnight that the US was close to resolving its steel and aluminium tariff dispute with Canada and Mexico.

Global markets​ were higher overnight as Technology stocks led the market with US stocks reclaiming some ground lost to Monday’s steep sell-off. 

Global markets​ fell sharply overnight reflecting the escalation in tit-for-tat tariff hikes by the US and China.

US markets initially dropped sharply following the planned increase in US tariffs on $200 billion worth of Chinese goods by 25%, with ​China vowing to retaliate.

Global markets were ​lower ​overnight as investors await the latest developments in US-China trade relations a day before the United States ​is due to raise tariffs on Chinese goods.

Closer to home, the Reserve Bank of New Zealand cut the OCR to a record low 1.50%.