Market Update: What Has Been Impacting The Australian Markets?

  • Nov 23, 2018 AEDT
  • Team Kalkine
Market Update: What Has Been Impacting The Australian Markets?
Even though the Australian markets have ended on the positive note on November 23, 2018, the market players are still concerned about the performance of the broader index in the near future. These concerns are hovering over the investors’ might impact the markets moving forward. The US markets have been witnessing the downtrend which has the potential to substantially impact the global investors’ behaviour. The Australian market observers are of the view the settlement between the US and China trade war might help the broader markets of Australia which could help in regaining the investors’ confidence. Earlier, the Australian markets have been adversely affected by the elevated interest rate levels, weaker growth momentum in the Chinese economy, trade battle as well as declining oil prices. At the end of November 2018, the countries are expected to sit and discuss about the worries which are truly impacting the global markets as well as the investors’ behaviour. They are meeting so that some conclusion can be drawn which might support the global markets. Moreover, these types of global macro disturbances have the potential to severely impact the investors’ behaviour which could also impact the economies. The economy of China has been witnessing the negative impact because of the trade war as it has been hampering the consumers’ confidence and is also negatively impacting the sales of the goods. Oil Prices Continue to Raise Investors’ Concerns The tensions related to the oil prices continue to impact the investors’ sentiments as the worries related to the oversupply as well weaker economic outlook is still there. However, it seems that in the meeting which has been scheduled in December 2018 (next month), the talks would be focused on the supply cuts. Earlier, the market participants were dealing with the worries related to the sanctions imposed on Iran by the United States. The increased prices of the oil impact the emerging markets or EMs. However, a decline in the prices would be beneficial for the countries which are highly dependent on imports. Broadly, the market players are expecting that OPEC would reduce the supply of the oil which might help the oil prices to witness an uptrend. How Australian Stock Markets Have Performed on November 23, 2018? The Australian markets ended in green on November 23, 2018 as S&P/ASX 200 closed at 5716.2 which implies a rise of 24.9 points or 0.4%. Talking about the stocks which witnessed strong uptrend, Costa Group Holdings Limited (ASX: CGC) ended the day by witnessing a rise of 5.463% while Sigma Healthcare Limited (ASX: SIG) closed the session by increasing 5.102%. On the other hand, Technology One Limited (ASX: TNE), and Automotive Holdings Group Limited (ASX: AHG) ended the session by witnessing a decline of 7.119% and 6.044%, respectively. Accent Group Limited (ASX: AX1) conducted the annual general meeting or AGM and it also gave the trading update related to FY 2019. Read the full news here. Another company named BlueScope (ASX: BSL) conducted the AGM and confirmed the guidance related to the earnings for H1 of fiscal 2019. Read the full news here.

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