Market Update: The S&P/ASX 200 was lower by 1.3% at 4,667 points following another selloff session in the US and European equity markets overnight on the pace of Federal Reserve stimulus measures. The fall accelerated after the Nikkei opened lower and continued to fall sharply due to the continuous strength of the yen which has a negative impact on exporters. The Nikkei is currently down about 5.3%. Resources were weak with both BHP and RIO dropped by more than 2.0%. NCM, down for its 6th straight sessions, tumbled another 3.3%. It has fallen 24% from its close on 4th June. Financials were mixed, with both ANZ and WBC rose 0.8% while CBA and NAB were down 0.1% and 0.6% respectively. Another volatile session for the A$ as it rose passed US$0.95 overnight but could not hold on to its gain even after a better than expected unemployment figure. It is trading at US$0.9452. The SPI is down 1.3% at 4,667 on the Sydney Futures Exchange.
Posted on: Thu, 13 Jun 2013 02:56:22 +0000
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