Latest news with #HebeChen
Business Recorder
5 days ago
- 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.
Mint
27-06-2025
- Business
- Mint
Australian shares wipe out early gains as banks drag
Banks fall while miners gain NZ50 gains for second straight week (Updates to market close) June 27 (Reuters) - 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. "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. (Reporting by Nikita Maria Jino in Bengaluru; Editing by Vijay Kishore)
Yahoo
05-06-2025
- Automotive
- Yahoo
Australia's Lynas surges as automakers flag risks from China's rare-earth export curbs
By Rajasik Mukherjee (Reuters) -Shares of Australia's Lynas Rare Earths climbed on Thursday to their highest point in more than two years, after global automakers warned that China's export restrictions on rare-earth materials could lead to production delays. As the world's largest rare-earth producer outside China, Lynas is expected to benefit from concerns over global supply stability. Analysts suggest the situation could create favorable conditions for the Australia-listed company amid rising geopolitical tension and demand for critical minerals. Lynas' stock jumped as much as 11.8% to A$9.2, touching its highest level since February 8, 2023. The move also marked the stock's biggest intraday percentage gain since October 24, 2023. "Lynas' rally ... is a powerful reflection of the dual drivers at play today: escalating geopolitical tensions and surging demand for green technology," said Hebe Chen, market analyst at Vantage Markets. "As China tightens rare-earth export controls, markets are pricing in supply risks — positioning Lynas ... as a strategic hedge." China, which accounts for about 90% of global rare-earth production, imposed export restrictions in April on the strategic minerals in response to tariffs introduced by U.S. President Donald Trump. The move raised alarms across industries reliant on the 17 rare-earth elements, which are critical for defense systems, electric vehicles, clean energy, and advanced electronics. This week, German automakers added urgency to those concerns, warning that China's export restrictions on rare-earth materials pose a significant threat to their production lines and local economies. Europe's auto supplier association CLEPA said several production lines have shut down after running out of supplies, while Mercedes-Benz said they were talking to top suppliers about building "buffers" such as stockpiles to protect against potential threats to supply. Although rare-earth elements are relatively common in the earth's crust, China dominates the global supply chain by mastering the complex and environmentally challenging refining process. The U.S. has only one operational rare-earth mine, but the bulk of its output is still shipped to China for processing, underscoring the strategic importance of non-Chinese producers such as Lynas.
