What's happening in markets? Friday 15 February
Australian Securities Exchange delists record number of Chinese firms; US retail sales for December is worst result since 2009; and Charlie Munger warns against teaching young people to actively trade stocks. Here's what's happening in markets today.
What I'm reading
Chinese firms in the ASX's firing line
A record number of Chinese firms were delisted by the ASX in 2018. Six of the ~40 Chinese companies have been delisted for reasons including failing to lodge financial statements and corporate governance concerns.
US retail sales could spell trouble for the economy
New data yesterday showed US retail sales fell 1.2% in December, the worst result since 2009.
Charlie Munger: Active trading is like heroin
While most investors are familiar with Charlie's appearances at the Berkshire Hathaways AGM, the 95-year-old is also the Chairman of the Daily Journal. CNBC has provided covereage of the event (see links below), or you can watch the full, unabridged, 2-hour monologue below that.
More highlights from the Daily Journal meeting
Stocks to watch
At the time of writing, the following companies had released half-yearly results to the market:
- Medibank Private Limited (MPL)
- Baby Bunting Group (BBN)
- People Infrastructure Limited (PPE)
- Domain Holdings (DHG) - read Chris Prunty's take on the result here.
- Whitehaven Coal (WHC)
- Link Group (LNK)
- Vicinity Centres (VCD)
Key market data
- ASX Futures: 6,001.5 (-0.98%)
- AUD/USD: 0.7107 (+0.25%)
- ASX200: 6,059.40 (-0.07%)
- S&P 500: 2,745.73 (-0.27%)
- China A50: 11,847.81 (-0.00%)
- Australia 2-yr bond: 1.752 (-0.96%)
- Australia 10-yr bond: 2.086 (-2.84%)
- US 2-yr bond: 2.496 (-1.63%)
- US 10-yr bond: 2.655 (-1.98%)
- Gold (USD/oz): 1,315.70 (+0.05%)
- Copper (USD/lb): 2.771 (-0.07%)
- Brent Oil (USD/bbl): 64.60 (+1.56%)
- 62% Iron Ore (USD/t): 87.35 (+1.75%)
Upcoming releases and events
- Chinese CPI and PPI for January is released at 12:30pm AEST
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Patrick is the founder and director of PLP Finance Media, a content production and strategy consulting agency specialising in investment content and communications. He also writes for A Rich Life.
Patrick was a Market Analyst, Editor, Senior Editor, and Managing Editor at Livewire Markets between 2015 and 2022. He was the Content Director and a member of the Investment Strategy & Research Group at Betashares between 2022 and 2024. He is an expert on listed products, commodities, and investment strategy, with a particular interest in gold and uranium,.
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Patrick is the founder and director of PLP Finance Media, a content production and strategy consulting agency specialising in investment content and communications. He also writes for A Rich Life. Patrick was a Market Analyst, Editor, Senior...
Expertise
Patrick is the founder and director of PLP Finance Media, a content production and strategy consulting agency specialising in investment content and communications. He also writes for A Rich Life. Patrick was a Market Analyst, Editor, Senior...
Expertise
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