Australasia

Australia shares surrender gains on fresh virus-fuelled curbs

07/07 Australian shares gave up early gains to close flat on Tuesday, as fresh restrictions to contain a spike in coronavirus cases in the country's second-largest state dented investor confidence.. . .  Full story

Australia's c.bank holds rate at record low, keeps wary eye on recovery

07/07 Australia's central bank held its cash rate at an all-time low on Tuesday, in a widely expected decision, and said it will help buttress the economic recovery by maintaining its accommodative approach for "as. . .  Full story

Australia's Victoria state reimposes coronavirus curbs

07/07 Australia's second most populous state of Victoria will reimpose stay-at-home restrictions in metropolitan Melbourne and one regional area of the state, Premier Daniel Andrews said, after a record daily rise in coronavirus infections.. . .  Full story

Australia's central bank holds cash rate at 0.25%

07/07 Australia's central bank left its cash rate at a record low of 0.25% on Tuesday in a widely expected decision and reiterated it stood ready to ease policy further if necessary.. . .  Full story

Australian interest rate changes since 1990

07/07 The Reserve Bank of Australia held its cash rate at 0.25% on Tuesday following a monthly policy meeting. The following is a chronology of the Reserve Bank of Australia's interest. . .  Full story

Australia shares gain ahead of c.bank meeting on upbeat U.S. survey, China hopes

07/07 Australian shares climbed on Tuesday ahead of the central bank meeting, as a survey showing a resurgent U.S. services industry and hopes of a rebound in China's economy lifted investor sentiment.. . .  Full story

Australia shares end lower as virus spike forces stringent curbs

06/07 Australian shares closed lower on Monday, snapping four straight sessions of gains, as a spike in domestic cases of the novel coronavirus forced fresh restrictions and renewed fears of further economic pain.. . .  Full story

Asia's equity valuations hit 10-1/2-year high in June

06/07 The valuation of Asian shares surged to a 10-1/2-year high in June, tracking a rally in global stocks, as upbeat U.S. and China data renewed hopes of a swift economic recovery, offsetting concerns over. . .  Full story

Virgin Australia bondholders seek permission to put forward sale alternative

06/07 Virgin Australia Holdings Ltd bondholders have applied to the Takeovers Panel for approval to allow them to make an alternative proposal to creditors for the sale of the airline to private equity group Bain Capital,. . .  Full story

Australia shares slip as coronavirus cases spike; NZ climbs

06/07 Australian shares inched lower on Monday as a spike in COVID-19 cases both locally and globally dented investor sentiment, a day before the central bank meets to decide on its monetary policy.. . .  Full story

Australian shares set to open lower as coronavirus cases rise; NZ up

06/07 Australian shares were poised to edge lower on Monday as the rising number of coronavirus cases in the country and across the globe cast a pall on investor sentiment.. . .  Full story

Bali holds mass prayers for reopening from coronavirus lockdown

05/07 Bali conducted mass prayers on Sunday as the Indonesian resort island prepares to reopen to tourists shut out due to the COVID-19 pandemic. More than a thousand people attended a prayer at Besakih Hindu temple. . .  Full story

Indonesia says trade, investment deal with Australia takes effect

05/07 An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia's Trade Ministry said.. . .  Full story

Growing list of Australian companies underpaying staff

03/07 Some of Australia's biggest companies have been caught up in underpayment scandals, prompting the federal government to say it would introduce tougher laws that criminalise what it called "wage theft" and ban executives from being. . .  Full story

Australia shares rise as strong U.S. jobs data rekindles recovery hopes

03/07 Australian shares rose on Friday, on track for a fourth straight session of gains, after a record surge in U.S. payrolls for June raised hopes that a recovery from the coronavirus-led economic downturn was. . .  Full story

COLUMN-Metals have placed their bets on China, global V-shaped recovery: Russell

02/07 Metals markets appear to have made up their mind that the global economy is likely to have a V-shaped economic recovery, and that China is already in this happy condition.. . .  Full story

Australian regulator imposes new conditions on Suncorp, CBA pension arms

02/07 Australia's prudential regulator said on Thursday said it has imposed new licensing conditions on the pension units of Commonwealth Bank of Australia and Suncorp Group following directions by a government-ordered enquiry.. . .  Full story

Australian shares hit 3-week high on hopes of virus vaccine, fresh stimulus

02/07 Australian shares ended at their highest level in three weeks on Thursday, led by financials and technology stocks, as positive developments in a COVID-19 vaccine trial and optimism about fresh stimulus raised hopes of a. . .  Full story

Fuel demand shock threatens future of Australia's oil refineries

02/07 A coronavirus-driven collapse in fuel demand is threatening Australia's oil refining industry, just as supply chain disruptions wrought by the pandemic have focused the government on the need to shore up fuel security.. . .  Full story

Australia trade surplus widens to A$8.0 bln in May

02/07 Australia's balance of goods and services for May seasonally adjusted, released by the Australian Bureau of Statistics on Thursday. A$ (billion). . .  Full story

Aussie and kiwi forecasts hiked to keep up with reality

02/07 Analysts have sharply upgraded forecasts for the Australian and New Zealand dollars in the latest Reuters poll, rushing to match their meteoric rally as investors wagered heavily on global economic reopening even as the coronavirus. . .  Full story

Australia shares rise on vaccine hopes, upbeat data

02/07 Australian shares were higher on Thursday, taking cues from a robust Wall Street session overnight on promising results from a coronavirus vaccine trial, and on encouraging data from top economy United States and largest trading. . .  Full story

Perth Mint sales at four-month low as demand for physical gold slumps

01/07 The Perth Mint's sales of gold products fell 30% to its lowest in four months in June as the coronavirus crisis weakened demand for jewellery, coins and minted bars, even though investors in international. . .  Full story

Australian shares end firmer as investors bet on fresh stimulus

01/07 Australian shares started the financial year on a positive note as investors pinned hopes on fresh stimulus measures, though concerns about further lockdown restrictions in the country's second-most populous state capped gains on Wednesday.. . .  Full story

Australian shares rise on stimulus hopes; NZ lower

01/07 Australian shares traded higher on Wednesday, boosted by hopes for further stimulus measures to prop up a pandemic-hit economy, although gains were capped by fears of a second wave of coronavirus infections.. . .  Full story

Australia insurer Suncorp prepares for higher natural hazard costs

01/07 Insurer Suncorp Group Ltd on Wednesday forecast higher natural hazard costs for the year through June 2021 than a year earlier when bushfires ravaged Australia, and said the COVID-19 pandemic was likely neutral for earnings. . .  Full story

Australia home prices slip in June, but sales rebound - CoreLogic

01/07 Australian home prices slipped for a second month in June as coronavirus lockdowns and rising unemployment cooled a once red-hot market, though a sharp rebound in sales was a positive for economic activity.. . .  Full story

COLUMN-Coal prices slammed on slumping India imports, China fears: Russell

30/06 Seaborne coal prices in Asia have plunged to the lowest in more than a decade as shipments to the region's top importers, especially India, have come under pressure in the midst of the coronavirus-led economic. . .  Full story

Aussie shares mark best quarter in nearly 11 years; NZ hits 3-wk high

30/06 Australian shares rose on Tuesday after the country's central bank played up prospects of fresh stimulus and as employment continues to recover from the lockdown, although a spike in COVID-19 cases globally and at. . .  Full story

Australia c.bank urges ongoing government stimulus for economy

30/06 Australia's economy will need "considerable" support for some time, Reserve Bank of Australia Deputy Governor Guy Debelle said on Tuesday, adding it would be a "problem" if the government ended fiscal stimulus in September as. . .  Full story

Tim Tam maker Arnott's loses 50 jobs in first cuts since KKR buyout

30/06 Arnott's, maker of Tim Tam biscuits and other snacks, is shedding about 50 staff, a representative told Reuters, the first such cuts since U.S. private equity firm KKR & Co Inc bought one of Australia's. . .  Full story

Negative interest rates not needed in Australia - RBA's Debelle

30/06 An end to the COVID-19 driven fiscal stimulus by September, as initially flagged by the government, would be a "problem", Reserve Bank Of Australia Deputy Governor Guy Debelle said on Tuesday.. . .  Full story

Australian employment recovering gradually from virus shock

30/06 Australian employment is continuing to pick up gradually after the huge losses caused by coronavirus lockdowns, recovering around 30% of the jobs initially shed, data showed on Tuesday.. . .  Full story

Australian shares track Wall Street higher on stimulus hopes

30/06 Australian shares rebounded on Tuesday, tracking overnight gains on Wall Street amid hopes of further stimulus from the U.S. Federal Reserve to counter the coronavirus-led economic downturn, even as new cases pile up worldwide.. . .  Full story

RBNZ reaffirms guidance rates to stay on hold until next year

30/06 The Reserve Bank of New Zealand (RBNZ) has reaffirmed its guidance on keeping interest rates unchanged until March next year and is not expected to review this guidance, the bank's chief economist said on Tuesday.. . .  Full story

COLUMN-Iron ore, gold are keeping Australia's luck from running out: Russell

29/06 Iron ore and gold may seem unlikely bed fellows, but in the current coronavirus pandemic they are combining to try and hold up Australia's reputation as the "lucky country".. . .  Full story

Australian shares hit 2-week low as virus surge weighs

29/06 Australian shares kicked off the week on a lacklustre note to close 1.5% lower on Monday, with financials and energy stocks leading the declines, as a global upsurge in COVID-19 infections sent traders towards. . .  Full story

Australia sees biggest daily rise in COVID-19 cases in two months

29/06 Australia's second most populous state said on Monday it is considering reimposing social distancing restrictions after the country reported its biggest one-day rise in new coronavirus infections in more than two months.. . .  Full story

Australia's Ampol CEO sees growth opportunities post-COVID

29/06 The new boss of Australia's Ampol Ltd, Australia's biggest fuel supplier, sees opportunities for the company to grow coming out of the coronavirus pandemic, potentially through acquisitions, while it weighs when to reopen its lone. . .  Full story

Australian shares fall as rising virus cases dent sentiment

29/06 Australian shares fell on Monday as a continued rise in cases of the novel coronavirus at home and around the world deepened fears of further economic pain.. . .  Full story

Australian regional airline Rex approves plans for big-city operations

29/06 Regional Express Holdings Ltd (Rex) said on Monday its board had approved plans to raise at least A$30 million ($20.57 million) to launch jet services that would compete against Qantas Airways Ltd and Virgin. . .  Full story

Australia shares set to open lower, NZ flat

29/06 Australian shares are likely to open lower on Monday amid the rise of novel coronavirus cases at home and abroad, and the prospect of continued economic pain as virus-led restrictions are renewed.. . .  Full story

ASX to launch 5-year Australian Treasury futures

26/06 Australia's stock exchange operator, ASX Ltd, intends to launch a five-year Treasury bond futures contract later this year, it said on Friday.. . .  Full story

New Zealand tourism on a slippery slope as ski season kicks off

26/06 New Zealand's tourism industry is suffering, Prime Minister Jacinda Ardern said on Friday as she launched the ski season in the absence of foreign visitors, who are being kept out to keep the novel. . .  Full story

Qantas raises $940mln to counter coronavirus, shares slip

26/06 Qantas Airways Ltd successfully completed a discounted A$1.36 billion ($940 million) share placement to institutional investors on Friday, before its shares dropped to a one-month low as they resumed trading.. . .  Full story

Bain selected as winning bidder for Virgin Australia - administrator

26/06 U.S. private equity group Bain Capital has been selected as the preferred bidder for Virgin Australia Holdings Ltd, the airline's administrator said on Friday without disclosing the terms of the deal.. . .  Full story

Australia shares set to open higher, NZ falls

26/06 Australian shares looked set to rebound on Friday after dropping over 2% in the previous session, even as new coronavirus cases continue to rise at home and around the world. The. . .  Full story

Australian universities cut stake in student placement firm as virus hits sector

25/06 A company owned by Australian universities said on Thursday it was raising cash by selling down its stake of a listed business that finds placements for foreign students, a sign of pressure on the. . .  Full story

Australian shares set to open lower, NZ rises

24/06 Australian shares are set to open lower on Thursday as fears of a second wave of coronavirus infections at home and around the world renew worries about further economic pain. The. . .  Full story

BHP puts Australian thermal coal mine up for sale - sources

24/06 The world's largest mining company BHP Group has hired Macquarie Bank and JP Morgan to sell its Australian thermal coal mine, three sources said, as miners face increasing pressure to reduce their exposure to. . .  Full story

Virgin Australia bondholders launch rival proposal to stop private equity sale

24/06 Virgin Australia Holdings Ltd bondholders lodged a last-ditch recapitalisation proposal for the struggling airline on Wednesday, seeking to recoup more of their investment and stop its sale to a U.S. private equity firm.. . .  Full story

Australian shares gain on gold, healthcare stocks; NZ rises most in a week

24/06 Gold and healthcare stocks helped Australian shares eke out another session of gains on Wednesday, as investors remained cautiously optimistic about hopes of an economic recovery even as coronavirus cases continue to rise.. . .  Full story

New Zealand holds rates, flags readiness for more stimulus

24/06 New Zealand's central bank kept rates unchanged on Wednesday and maintained its pace of quantitative easing, but struck a dovish tone by flagging it was ready to ease policy to restore an economy hit. . .  Full story

Australian shares rise on quick rebound hopes, NZ up ahead of rate decision

24/06 Australian shares rose on Wednesday, tracking a stronger Wall Street, as hopes for a quick economic recovery persisted following an improvement in data from the United States and an upbeat commentary from domestic regulators.. . .  Full story

BHP Group hires JP Morgan to sell Australian thermal coal mine - sources

23/06 The world's largest mining company BHP Group has hired U.S. investment bank JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming, two sources said.. . .  Full story

COLUMN-Australia's mining lobby takes a baby step on climate change: Russell

23/06 Australia's mining lobby group, the Minerals Council of Australia, long derided by environmentalists as coal-loving dinosaurs, has launched a climate action plan that is probably significant for what it doesn't say than what it does.. . .  Full story

Moody's affirms Australia's AAA rating, outlook stable

23/06 Moody's affirmed Australia's coveted 'AAA' rating on Tuesday citing effective monetary policy and solid financial buffers, differentiating itself from rivals Standard & Poor's and Fitch who had cut their outlook on the prized rating to. . .  Full story

Woolworths underpayment hits pub and liquor store staff, virus to hit annual profit

23/06 Top Australian grocer Woolworths Group Ltd revealed on Tuesday it had underpaid staff at its pubs and liquor stores division and forecast a decline in annual profit as a COVID-19 shutdown hammered non-supermarket sales.. . .  Full story

Australian shares track Wall St higher as stimulus hopes linger

23/06 Australian shares gained on Tuesday, tracking Wall Street indexes that rose overnight on hopes of more stimulus measures to combat a coronavirus-led economic slump, while higher oil prices boosted energy stocks.. . .  Full story

Australia's Cromwell Property gets offer for 29% stake from largest shareholder

23/06 Australia's Cromwell Property Group said on Tuesday it had received a takeover bid from its largest shareholder, ARA Asset Management, for 29% of its stapled securities.. . .  Full story

NZ's Fonterra to pay farmers more for sustainable dairy

23/06 Fonterra Co-Operative Group Ltd will incentivise sustainably produced dairy by paying farmers more for such products, the world's largest dairy exporter said on Tuesday.. . .  Full story

Bank of America shuffles Asia capital markets leaders

22/06 Bank of America said on Monday it has appointed Matt Basler and Craig Coben to co-head its Asia Pacific capital markets business.. . .  Full story

Qantas to announce future direction soon, trying to avoid forced pilot job cuts -sources

22/06 Qantas Airways Ltd has told pilots it plans to make an announcement on the airline's future direction by the end of the month and that it hopes to avoid forced job cuts among flight. . .  Full story

Rising Australian dollar not a problem yet, says RBA's Lowe

22/06 The recent appreciation in the Australian dollar is not a problem at this point although a lower exchange rate would help the economy, the country's top central banker said on Monday.. . .  Full story

Australian shares fall on worries about slower economic recovery

22/06 Australian shares fell on Monday as rising cases of the novel coronavirus in the country and around the world diminished hopes of a quick recovery from a pandemic-induced economic downturn.. . .  Full story

Soft underbelly in China's steel sector boom points to bumpier economic recovery

22/06 Behind the boom in China's steel production since March - and hopes for a quick economic recovery - is a tale of two diverging sectors: construction demand for infrastructure projects has been strong, while manufacturing. . .  Full story

Australia shares set to open lower; NZ rises

22/06 Australian shares are likely to open lower on Monday as the rising number of coronavirus cases at home and around the world diminish hopes of a quick recovery from the pandemic-induced economic downturn.. . .  Full story

Australian shares pare gains on second virus wave concerns

19/06 Australian shares pared sharp early gains to settle a touch higher on Friday as worries about an uptick in coronavirus cases in Beijing and several U.S. states offset optimism stemming from a record. . .  Full story

Record sales for Australian retailers raise quick economic recovery hopes

19/06 Australian retail sales surged a record 16.3% in May as a wide scale easing in coronavirus lockdowns allowed entire sectors to re-open, enabling a recovery from an historic plunge in April.. . .  Full story

Energy stocks boost Australian shares, NZ up

19/06 Australian shares gained on Friday, hitting a more than one-week high, helped by energy stocks that tracked higher oil prices, although worries remained about a second wave of COVID-19 infections around the world. The S&P/ASX. . .  Full story

IEA sees a post-coronavirus renewable future, Asia may not: Russell

18/06 The International Energy Agency (IEA) has laid out a compelling path on how governments can use the recovery from the novel coronavirus recession to switch to renewable energies and help meet global climate change goals.. . .  Full story

Australian home prices seen falling 7% over next year - RBA papers

18/06 Australian home prices are expected to fall 7% over the next year largely due to the hit to buyer confidence from the COVID-19 pandemic, the central bank said in its baseline forecast for the. . .  Full story

Australian shares down nearly 1% as dismal jobs data, virus relapse weigh

18/06 Australian shares ended lower on Thursday as the country's unemployment rate jumped to the highest in about two decades, while a spike in fresh COVID-19 cases globally assuaged hopes of a quick economic rebound. . .  Full story

Chinese interest in Australian property shrinks as diplomatic rift grows

18/06 Chinese buyer enquiries for Australian homes fell to their lowest in almost three years in May, according to independent data, suggesting multi-billion dollar housing demand could be another casualty of a diplomatic spat between the. . .  Full story

Australia jobless rate surges to 19-year high in May, slow recovery seen

18/06 Australia's unemployment rate jumped to the highest in about two decades in May as nearly a quarter of a million people lost their jobs due to the coronavirus pandemic-driven shutdowns.. . .  Full story

Australian shares fall on rising coronavirus cases, NZ slips

18/06 Australian shares fell on Thursday, weighed by heavyweight mining and energy sectors, as a spike in coronavirus cases across the United States and China put a damper on sentiment.. . .  Full story

Qantas halts most international flights until October on border closure

18/06 Qantas Airways Ltd said on Thursday it had cancelled most international flights until late October after the Australian government indicated its border closure because of the coronavirus was likely to extend to 2021.. . .  Full story

Aussie house prices to go down under this year, no respite in sight

18/06 Australian house prices will decline this year and next as the damage from the coronavirus pandemic's disruption to the economy lingers on, with demand wilting on higher unemployment and lower immigration, a Reuters poll showed.. . .  Full story

Australia shares set to open lower, NZ rises in early trade

18/06 Australian shares are set to open lower on Thursday as a rise in coronavirus cases globally weighs on sentiment, while weaker iron ore and oil prices will likely hurt index heavyweights.. . .  Full story

Government backing for Australian securitised bonds fuels investor interest

17/06 Strong government support in the Australian securitisation market, one of the Asia-Pacific region's largest after China, is underpinning a surge in investor interest in mortgage-backed bonds at perceived bargain prices.. . .  Full story

Australian shares rise on hopes for quick economic recovery

17/06 Australian shares advanced on Wednesday as hopes for a swift global economic recovery rose after a record jump in U.S. retail sales, although fears of a second wave of coroanvirus cases capped gains.. . .  Full story

MONTH OUTLOOK

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