Australian business investment jumped by the most in almost a decade in the first quarter as businesses took advantage of tax breaks to buy new machinery, suggesting economic growth could also beat forecasts.
Australian coal exports survive, adapt, overcome
Australian coal exports have continued to steadily rise in value since overcoming China’s ban on the commodity last year, data from the Australian Bureau of Statistics (ABS) has revealed.
Coal exports in April 2021 increased by $287 million, 8 per cent higher when compared with the previous month.
This was partially driven by coal exports to India, which increased by 167 per cent ($116 million) in April.
Metalliferous ore exports reached a record high for the second consecutive month at $16.5 billion.
This marked an increase of $96 million from March, driven by precious metal ores and concentrates.
Total Australian exports in April reached a record high of $36 billion, which was largely driven by increases in resources shipments.
Asian Markets Mixed Amid Cautious Trade
CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Thursday, following the positive cues overnight from Wall Street on continued economic optimism as the country continues to reopen following the coronavirus pandemic. Buying interest remained subdued as traders look ahead to Friday s closely watched inflation reading, which could directly affect the current levels of stimulus. Asian markets closed mixed on Wednesday.
Traders are also cautious and refraining from making major moves amid the continued surge in coronavirus cases in most markets in the region, particularly in India and Japan. The efforts to control the pandemic is also leading to restrictions and lockdowns is several areas in the region.