The Aussie market suffered its worst day in about ten weeks on Friday, sliding 1.4% and hitting a four month low as a mix of rate concerns, weak China data and a tech sell-off pushed the ASX lower for a fourth straight session. Tech led the declines with a 4.5% drop, leaving the sector down more than 9% for the week, while the major banks also weighed heavily, including CBA which shed more than 10 percent across the past five days. Energy was the only sector to turn positive late in the day as oil prices bounced after reports of a Ukrainian drone strike on a Russian export hub. China’s latest figures added to the gloom, showing further weakness across investment, property and factory activity. Company news was limited, though Megaport tumbled after a capital raise and DroneShield rebounded slightly from yesterday’s sharp fall. Looking to next week, Nvidia’s results are set to dominate global market sentiment, alongside local wage data, RBA minutes and a busy run of AGMs.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

The Aussie market suffered its worst day in about ten weeks on Friday, sliding 1.4% and hitting a four month low as a mix of rate concerns, weak China data and a tech sell-off pushed the ASX lower for a fourth straight session. Tech led the declines with a 4.5% drop, leaving the sector down more than 9% for the week, while the major banks also weighed heavily, including CBA which shed more than 10 percent across the past five days. Energy was the only sector to turn positive late in the day as oil prices bounced after reports of a Ukrainian drone strike on a Russian export hub. China&rsquo;s latest figures added to the gloom, showing further weakness across investment, property and factory activity. Company news was limited, though Megaport tumbled after a capital raise and DroneShield rebounded slightly from yesterday&rsquo;s sharp fall. Looking to next week, Nvidia&rsquo;s results are set to dominate global market sentiment, alongside local wage data, RBA minutes and a busy run of AGMs.
The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

CommSec Market Update is the podcast that will help you to stay ahead of the trends with daily expert commentary as the market opens and closes.  Whether you are invested in the stock market, or just looking to get started, join the team from Australia’s leading online broker and follow the changes as they happen.



The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

CommSec Market Update is the podcast that will help you to stay ahead of the trends with daily expert commentary as the market opens and closes.  Whether you are invested in the stock market, or just looking to get started, join the team from Australia’s leading online broker and follow the changes as they happen.
 
The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

Insights, interviews and the latest news and information on investment markets from CommSec, Australia's leading online broker.

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