US tech sell-off weighs on Australian sharemarket

US tech sell-off weighs on Australian sharemarket

The ASX drifted lower on the second day of trading in the new year after investors sold off technology stocks on Wall Street and reined in their bets on the scale of interest rate cuts in the US.

  • byMillie Muroi

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ASX slips on last trading session of the year,but local bourse records strongest annual gains since 2021
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ASX slips on last trading session of the year,but local bourse records strongest annual gains since 2021

The S&P/ASX200 closed 27.3 points,or 0.3 per cent lower,at 7590.8 on Friday,weighed down by all 11 sectors,which were trading in the red.

  • bySumeyya Ilanbey
Shares near all-time high as Australian dollar climbs

Shares near all-time high as Australian dollar climbs

The Australian sharemarket is within 14 points of setting an all-time high after the local index rallied again on the back of rising iron prices.

  • bySumeyya Ilanbey
ASX rally runs out of steam despite Wall Street rebound

ASX rally runs out of steam despite Wall Street rebound

The Australian sharemarket’s rally ran out of puff on the last trading day before Christmas and finished flat,despite early morning futures indicating the local bourse would rise in line with strong gains on Wall Street.

  • bySumeyya Ilanbey
Santa rally gathers steam as ASX nears record high

Santa rally gathers steam as ASX nears record high

The Australian sharemarket has hit a 10-month high led by gains in all 11 sectors amid rising hopes that interest rates relief is coming.

  • bySumeyya Ilanbey
Aussie dollar marks 40 years of resilience and China reliance
Analysis
Currencies

Aussie dollar marks 40 years of resilience and China reliance

The float of the Australian dollar 40 years ago today forged a shock absorber that helped the country weather decades of economic turbulence and to punch above its weight in global financial markets.

  • byMichael G. Wilson andMatthew Burgess
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Coles offers refunds after raising prices on 20 ‘locked’ items

Coles offers refunds after raising prices on 20 ‘locked’ items

Coles raised the cost of 20 items it had previously “locked” to help households budget,as supermarkets face an inquiry on their pricing during the cost-of-living crisis.

  • byAmber Schultz
Fran planned to retire on a never-ending cruise. Now she is couch-surfing

Fran planned to retire on a never-ending cruise. Now she is couch-surfing

Marketed as “the cruise that never ends”,Miray Cruises’ Life at Sea voyage will never set sail. And passengers are still out hundreds of thousands of dollars.

  • byAmber Schultz
The 40-year-old change that has made the Reserve Bank’s job easier
Analysis
Currencies

The 40-year-old change that has made the Reserve Bank’s job easier

Soon after landing in the top-seat of Australian politics in 1983,Bob Hawke floated the Australian dollar. Here’s how it shaped our inflation battle.

  • byMillie Muroi
ASX stages late rally as industrials advance;Origin Energy declines

ASX stages late rally as industrials advance;Origin Energy declines

After a mixed session,the Australian sharemarket closed 0.5 per cent higher as all sectors except energy and utilities companies advanced.

  • bySumeyya Ilanbey
Why the Australian dollar is surging
Opinion
Currencies

Why the Australian dollar is surging

Anyone contemplating travelling to the US would be encouraged by a sudden jump in the value of the Australian dollar over the past fortnight. Here’s what is behind it.

  • byStephen Bartholomeusz