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Wall Street rebounded overnight in a broad-based rally as investors brushed aside intensifying trade rhetoric between the United States and China.MORE >
The Australian share market is on course for its second worst month of 2018 after the Trump administration announced additional trade tariffs on China. Confidence in the market continued to plummet following the announcement, with most indices performing poorly.
Tuesday, 18th September, 2018
The ASX200 index closed down 23.5 points, or 0.38 percent, per cent, at 6,161.5 points at market close, while the broader All Ordinaries index was 24.4 points, or 0.39 percent, lower at 6,269.5 points.
Resource stocks were some of the hardest hit, with BHP dropping 0.41 percent to $31.48, while Rio Tinto was up slightly at 21 percent to $73.16. Origin Energy fell 24 percent to $8.11 while Santos extended its losses for the day, sitting 13 percent lower at $6.95. Aged care stocks bounced back after a dramatic drop on Monday following Prime Minister Scott Morrison announcing a royal commission into the sector. Regis Healthcare were up seven percent to $3.07, Japara Healthcare was up 3.0 percent to $1.42 and AVEO Group closed three percent higher at $2.09. Estia Health finished at 7.0 percent hogher at $2.47.
Kathmandu shares surged more than 10 percent after strong profit results released thanks to a jump in the retailer's Australian sales. The Australian dollar had already taken hits in anticipation of the trade tensions between the US and China, and was only fleetingly impacted on Tuesday. The RBA used minutes of its September policy meeting to warn that protectionism was a "material risk" to an otherwise upbeat outlook for the global and local economies. The bank also welcomed the "modest" decline in the Aussie, saying it would help support economic growth. The Australian dollar was buying 72.13 US cents, compared to 71.60 on Monday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7205||0.0061||0.86|
|$A vs GBP||0.5485||
|$A vs EUR||0.6167||0.0045||0.74|
|$A vs YEN||80.67||0.88||1.11|
|$A vs $NZ||