Latest news with #HebeChen
CNA
11-08-2025
- Business
- CNA
CNA938 Rewind - Stock take today: Non-AI tech takes a hit and markets eye big week ahead
On the daily markets analysis on Open For Business, Andrea Heng and Hairianto Diman speak with Hebe Chen, Market Analyst, Vantage Markets
Mint
30-07-2025
- Business
- Mint
Banks lead Australian shares to record close as inflation data lifts rate-cut hopes
Softer inflation data boosts rate-sensitive stocks Banks rise to more than one-week high ASX 200 eyes fourth consecutive month of gains July 30 (Reuters) - Australian shares rallied to a record close on Wednesday, led by heavyweight banks as softer inflation data boosted hopes for an interest rate cut next month, while improved prospects of an extension to the Sino-U.S. trade truce added to the relief. The S&P/ASX 200 benchmark index closed 0.6% higher at 8,756.40 points. The benchmark is on track to close July nearly 2% higher, its fourth straight month of gains. Australian consumer prices grew at the slowest pace in over four years in the June quarter, adding to the mounting pressure on the Reserve Bank of Australia to reduce borrowing costs at its policy meeting next month. "It (inflation data) also lowers the bar for faster and deeper easing ahead of year-end as disinflation broadens across both goods and services," Hebe Chen, market analyst at Vantage Markets said. Banks, among the biggest beneficiaries of lower interest rates, led the financial index 1.1% higher to a more than one-week high. All the "Big Four" banks advanced between 0.7% and 1.6%. Rate-sensitive real estate stocks climbed 1.3%. Mirvac Group added 2.7%, while Dexus rose 1.4%. Meanwhile, U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce, defusing an escalating trade war between the world's two biggest economies that threatens global growth. For Australia, the news offers a welcome reprieve -stabilising export demand for iron ore and LNG and providing near-term support for resource-heavy firms amid ongoing external uncertainty, said Chen. Miners ended marginally lower with BHP down 0.5% and Rio Tinto ending 1% lower. The world's biggest iron ore miner is expected to announce its interim results after market close. Energy stocks ticked 0.1% down, while gold stocks rose 0.3%. New Zealand's benchmark S&P/NZX 50 index fell 0.6% to 12,855.97 points. (Reporting by Sneha Kumar in Bengaluru; Editing by Harikrishnan Nair)
Business Recorder
16-07-2025
- Business
- Business Recorder
Australian shares end lower as US CPI clouds Fed rate-cut hopes
Australian shares fell on Wednesday, led by banks and mining companies, after the latest U.S. inflation data indicated tariffs may be pushing prices higher, dampening hopes for near-term rate cuts by the Federal Reserve. The S&P/ASX 200 index ended the day 0.8% lower at 8561.8. The benchmark had ended 0.7% higher on Tuesday, notching a record close. U.S. consumer prices rose in June at their fastest pace in five months, data showed on Tuesday, signalling that President Donald Trump's intensifying import tariffs were starting to hit households and could put the Federal Reserve on the back foot. The rate-sensitive financials sub-index declined more than 1% to its lowest in over three weeks. Top lenders Commonwealth Bank of Australia and National Australia Bank lost over 1% and 3%, respectively. 'June CPI feels like a belated alarm bell…trickling into the local market, hitting rate-sensitive names and growth stocks. For the RBA, it only strengthens the case for wait-and-see, especially with the tariff turmoil,' said Hebe Chen, market analyst at Vantage Markets. The financial sector has come under pressure amid tariff-related uncertainty and shifting rate expectations, weighing particularly on CBA, which had been trading at a premium to the benchmark. Australian shares rise to record close as investors shrug off US tariff fears ASX-listed shares of gold mining giant Newmont Corporation fell 5.7% on Tuesday after its finance chief resigned, making it the biggest drag on the mining sub-index, which slipped 1%. Diversified miner South32 was also among the top losers, falling 3%, after UBS cut its price target on concerns over its Mozal aluminium smelter. Global iron ore miner Rio Tinto reported its strongest second-quarter output since 2018 earlier in the day after announcing Simon Trott as its CEO after market hours on Tuesday. Its shares were in the red much of the session before ending slightly higher. New Zealand's benchmark S&P/NZX 50 index ended the day 0.5% higher at 12,754.59 points.
CNA
30-06-2025
- Business
- CNA
CNA938 Rewind - Stock take today: Inflation threat looms, US dollar drops
CNA938 Rewind On the daily markets analysis on Open For Business, Hairianto Diman speaks with Hebe Chen, Market Analyst at Vantage Markets.
Business Recorder
27-06-2025
- Business
- Business Recorder
Australian shares wipe out early gains as banks drag
Australian shares gave up early gains to close lower on Friday, as losses in heavyweight financials offset a rise in mining stocks, but the benchmark still posted a weekly gain. The S&P/ASX 200 index ended 0.4% lower to finish the session at 8,514.2 points after rising as much as 0.6% in the early hours of trade. The benchmark gained 0.1% for the week and was poised to log its third consecutive monthly gain. Banking stocks fell 1.5% after hitting a fresh peak for the fourth straight session, with the 'big four' banks losing between 1.6% and 2.8%. However, the sub-index marked its strongest week in nearly a month. 'Financials have taken a breather after a strong run. This looks like a classic case of profit-taking rather than a shift in fundamentals — banks remain well-supported by stable credit conditions and a resilient domestic economy,' said Hebe Chen, market analyst at Vantage Markets. Healthcare stocks also fell 1.4%, with biotech firm CSL losing 2%. The sub-index lost 1.5% for the week, its weakest since early May. Australian shares close lower as tech stocks weigh 'As appetite for defensives fades and investors rotate into more cyclical names, CSL's lackluster performance continues to deter any meaningful dip-buying,' Chen said. Real estate stocks fell 1.2%, while the industrial sector was down 0.7%. Bucking the trend, heavyweight mining stocks rose 2.5% and posted their strongest session since April 10. The sub-index rose 0.3% for the week, its best weekly performance in more than a month. Dalian iron ore futures rose and were poised for a weekly gain on falling iron ore and steel inventories. Sector giant BHP rose 3.9%, closing at its highest level since June 12. Rio Tinto and Fortescue added 4.6% and 3.6%, respectively, on the day. New Zealand's benchmark S&P/NZX 50 index closed the session 0.8% higher at 12,583.59 points, extending gains for the week.
