Five things to watch in Australia today

Highlights

  • Mining and Energy sector players might have a positive day following strong overnight closing on Wall Street, with strong commodity prices.
  • 3% of people in Australia over the age of 16 are fully vaccinated.
  • International students to return to NSW by Christmas this year.
  • Australian Treasurer Josh Frydenberg has highlighted that Australia needs to focus on the 2050 net-zero emission target.

Higher commodity prices, China’s Evergrande status and US Federal Reserve’s stimulus taper plans are few global developments that had been influencing the global and the Australian share market since yesterday.

Driven strong overnight closing on Wall Street in commodity prices, ASX Sector Mining and Energy is expected to trade in the green zone today following, supporting miners and energy shares.

Another major factor that might counterbalance the performance of many ASX sectors by ma rket close is the concern over rising COVID-19 cases in Australia. AT AEST 11 AM, ASX 200, the benchmark index of ASX, was trading down by 6.00 points to 7,364.20.

Let us look at five things this morning that should also be considered while trading on ASX.

Rising COVID-19 cases

Victoria continues to witness a rise in the number of COVID-19 cases. In the last 24 hours, Australia has reported 19,375 active cases. Out of these total active cases, 12,460 cases are from NSW, and 6,666 cases are from Victoria. In the last 24 hours, Victoria has recorded 766 cases in a single day, which is the highest so far in Victoria.

To combat the rising cases in Australia vaccination drive is on. As of 23 September 2021, 74.1% of the population over 16 years of age have been administered a single dose of the COVID-19 vaccine. 49.3% of people over the age of 16 are fully vaccinated.

Statistics:

Rising COVID-19 cases, Vaccine Rollout

International students to Return NSW by Christmas:

Under the pilot program agreed by the universities and education providers, up to 650 international students will return to New South Wales. Earlier, they were supposed to join by mid of 2021. However, the COVID-19 outbreak in Sydney led to this delay.

Australian Treasurer on 2050 net-zero Emission Target

Australian Treasurer Josh Frydenberg has highlighted that Australia needs to focus on the 2050 net-zero emission target. He pointed out that the country might have to face financial risk if the country does not match other developed nations in terms of cutting the carbon emission to net-zero by 2050.

Rising oil prices

In Australia, the benchmark index was significantly up, driven by gains in materials, financials and energy sector. Following the update related to rise in oil prices, two big players on ASX like Santos (ASX:STO) and Woodside Petroleum Limited (ASX:WPL) would be in spotlight today.

Current Global Oil prices (AEST: 12:03 PM):

  • WTI Crude oil (Nymex)-56 USD/bbl (up 0.18%)
  • Brent Crude (ICE)-59 USD/bbl ( up 0.26%)
  • Crude Oil (Tokyo)- 46,590.00 JPY/kl (up 3.44%)
  • Natural Gas (Nymex)-06 USD/MMBtu (up 1.63%)
  • RBOB Gasoline (Nymex)-12 USD/gal. (up 0.18%)
  • Heating Oil-51 USD/gal (up 0.27%)
  • Gas Oil-75 USD/MT (up 0.73%)
  • Kerosene (Tokyo)- 63,930.00 JPY/kl (up 1.27%)

ASX players paying dividends today

Some of the ASX players are going to pay their dividends on 24 September 2021. These are IRESS Limited (ASX:IRE), McMillan Shakespeare (ASX:MMS), Michael Hill International (ASX:MHJ), Pental (ASX:PTL) and Perpetual Limited (ASX:PPT).

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