Despite a sharp drop in market activity and a severe weakening in consumer sentiment, home price rises were recorded across most capital cities, driving national house prices up 0.3 percent in April. But the national monthly pace of growth more than halved, dropping from 0.7 percent in March. House prices saw their smallest month-on-month gain since June last year when the national index was down 0.2 percent. The number of home listings was 35 percent lower at the end of April relative to the same time a year ago and 43 percent below the five-year average.
Copper prices eased overnight as a survey showed factory activity in its top consumer - China - unexpectedly shrunk, but hopes for higher metals demand curbed price falls. Lingering fears for a long recovery ahead for China pulled benchmark copper on the London Metal Exchange (LME) down 1.3 percent to $US5,196 per tonne.
Some international freight services out of Adelaide Airport are set to resume after being brought to a standstill by the global coronavirus pandemic. Singapore Airlines will use passenger aircraft to carry 40 tonnes of cargo out of Adelaide with flights scheduled for May 6 and May 13.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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