Market Update: The S&P/ASX200 was up by as much as 0.6% this morning before giving it all back to be down 0.1% to 5,402 points after the weakest China HSBC PMI...

Bell Potter

Stockbroker

Market Update: The S&P/ASX200 was up by as much as 0.6% this morning before giving it all back to be down 0.1% to 5,402 points after the weakest China HSBC PMI in seven month came in at 48.3, below consensus of 49.5. Resources reversed their morning gains with gold miners leading the decline as the yellow metal fell 0.8% overnight after recent run-up. Resolute Mining dropped 4.9% while BHP fell 0.2% and RIO declined 0.9%. Financials were also in the red with all the major banks losing between 0.4% to 0.8%. Fairfax soared 20.6% after half year results show improvement. The AUD fell USD 0.005 after China PMI data and is currently trading at USD 0.8950. The SPI was down 0.2% at 5,367 points on the Sydney Futures Exchange.


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Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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