ASX to fall as US investors rethink interest rate outlook
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Australian shares are set to fall at the open, after an unexpected surge in US consumer prices triggered further selling of growth stocks amid bets the Federal Reserve is being too cautious about the outlook for inflation.
The yield on the US 10-year note rose 7 basis points to 1.69 per cent at 4.59pm in New York.
ASX futures were down 28 points or 0.4 per cent to 6993 near 7am AEST.
The Australian dollar dropped 1.5 per cent to US77.24¢ near 6.30am AEST; the NZ dollar tumbled 1.6 per cent against the greenback; the euro and pound each fell 0.6 per cent. The Bloomberg Dollar Spot index was 0.7 per cent higher.
Real estate shares fall on tax talks
BEIJING, May 12 (Reuters) - Hong Kong shares ended higher on Wednesday, with tech shares leading gains on bargain hunting following a sell-off in the previous session, while a settlement between Chinese smartphone maker Xiaomi Corp and the U.S. government also lifted sentiment. At the close of trade, the Hang Seng index was up 217.23 points, or 0.78% at 28,231.04. The Hang Seng China Enterprises index rose 1.2% to 10,556.57. The sub-index of the Hang Seng tracking the IT sector rose 3.5% and the energy sector rose 0.7%. The financial sector ended 0.49% lower, while the property sector dipped 0.75%. The top gainer on the Hang Seng was Xiaomi Corp, which gained 6.1%, after the company and the U.S. Defense Department agreed to resolve their litigation. The top gainers among H-shares were Xiaomi Corp up 6.1%, followed by Alibaba Group Holding Ltd, up 6.07%, and JD.Com Inc, which rose 5.22%. The biggest H-shares percentage declin
ASX to slip, iron ore extends rally
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Iron ore’s latest surge is not done yet. Read the latest here.
Roaring banks and miners lifted the ASX on Friday, read about it here.
Australian shares are set to edge lower to start the week, even with iron ore as well as both the Dow and S&P 500 resetting their respective record highs.
ASX futures were down 4 points or 0.1 per cent to 7055. The Australian dollar leapt 0.8 per cent to US78.44¢.
The yield on the US 10-year - which plunged 10 basis points on the jobs data - ended up 1 basis point at 1.58 per cent in New York’s Friday session.