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Hmmm... a decent-sized intraday reversal in the big Resources: RIO fell 3% from its high to its close, BHP dropped 1.8% from its high to its close, and even takeover darling WMC Resources (WMR) fell a percent from its high. And yet all of them closed well off their lows. What could this bode?
Major Market Indices
The broad market - the ASX All Ordinaries - fell by 16.70 points (-0.41%), finishing at 4086.70 points. The index hit an intraday high of 4120.60 and its low was 4086.7.
Blind Freddie ought to be able to discern that since the market closed at its low, the trend was down (i.e., the market didn't close on a bounce off a low). In fact, as usual after a bounce in the States, the market roared upwards at the open, with the All Ords rising almost 20 points in the first ten minutes. Then, once all the hopeful nuffies were set, the selling began and continued solidly for the following two hours. There was a feeble bouncelet from about midday, but then the market sagged in the afternoon.
The Index that runs (and is run by) the SFE's Share Price index Futures - the S&P/ASX 200 - fell by 22.40 points (-0.54%), finishing at 4096.90 points. [Note to self: get the ASX200 breakdown into the internals table. It needs to be there].
The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 15.10 points (-0.68%), finishing at 2206.30 points. Within the index members, there were 7 that rose, and 12 losers. Total volume in rising issues within the ASX20 amounted to 27.57 while volume in the losers totalled 74.26m units.
The major winners in the "big guns" were -
- News Corporation (NWSLV), +$0.40 (1.96%) to $20.83 on volume of 6.48m shares;
- Coles Myer Ltd. (CML), +$0.17 (1.85%) to $9.37 on volume of 3.42m shares;
- News Corporation (NWS), +$0.35 (1.66%) to $21.49 on volume of 6.72m shares;
- St George Bank (SGB), +$0.16 (0.67%) to $24.16 on volume of 825,000 shares; and
- Woolworths (WOW), +$0.07 (0.48%) to $14.78 on volume of 1.32m shares.
The following stocks made up the biggest percentage losers in the big-guns:
- Amcor (AMC), -$0.19 (2.65%) to $6.99 on volume of 6.68m shares;
- National Australia Bank (NAB), -$0.69 (2.36%) to $28.51 on volume of 5.63m shares;
- QBE Insurance Group (QBE), -$0.32 (2.15%) to $14.53 on volume of 3.75m shares;
- Westpac Banking Corporation (WBC), -$0.27 (1.41%) to $18.88 on volume of 3.87m shares; and
- Alumina (AWC), -$0.07 (1.19%) to $5.80 on volume of 5.25m shares.
At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index - the only place where underexploited value exists with any regularity - fell by 4.10 points (-0.17%), finishing at 2347.70 points. The major winners in the "pop-guns" were -
- Psivida (PSD), +$0.11 (11.46%) to $1.07 on volume of 850,000 shares;
- Consolidated Minerals (CSM), +$0.33 (10.19%) to $3.57 on volume of 928,000 shares;
- MYOB (MYO), +$0.11 (9.82%) to $1.23 on volume of 3.71m shares;
- AAV (AVV), +$0.10 (7.35%) to $1.46 on volume of 222,000 shares; and
- Institute Of Drug Technology Australia (IDT), +$0.12 (6.38%) to $2.00 on volume of 11,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Multiplex Group (MXG), -$0.94 (16.85%) to $4.64 on volume of 19.14m shares;
- Schaffer Corporation (SFC), -$0.94 (9.04%) to $9.46 on volume of 53,000 shares; and
- Sunland Group (SDG), -$0.17 (7.08%) to $2.23 on volume of 476,000 shares;
- Tower (TWR), -$0.11 (6.21%) to $1.66 on volume of 1.21m shares; and
- SDI (SDI), -$0.07 (5.83%) to $1.13 on volume of 502,000 shares.
| Code | Name | Close | +/- | % | Volume |
| XAO | All Ordinaries | 4086.7 | -16.7 | -0.41% | 587.71m |
| XTL | S&P/ASX 20 | 2206.3 | -15.1 | -0.68% | 102.73m |
| XFL | S&P/ASX 50 | 4040 | -20.9 | -0.51% | 0 |
| XTO | S&P/ASX 100 | 3329.8 | -19.2 | -0.57% | 0 |
| XJO | S&P/ASX 200 | 4096.9 | -22.4 | -0.54% | 0 |
| XKO | S&P/ASX 300 | 4102.6 | -22.3 | -0.54% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 3979.3 | -37.3 | -0.93% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2347.7 | -4.1 | -0.17% | 185.06m |
All Ordinaries Market Internals
| XAO | XSO | ASX20 | |
| Advances | 150 | 71 | 7 |
| Declines | 224 | 89 | 12 |
| Advancing Volume | 219.35m | 68.98m | 27.57m |
| Declining Volume | 290.74m | 77.57m | 74.26 |
S&P/ASX200 GICS Sector Indices
The top sector for the day was Industrials which gained 1.95% to 4986.80 points. The sector was helped by
- Macquarie Infrastructure Group (MIG), +$0.22 (6.3%) to $3.71 on volume of 9.12m shares;
- Brambles Industries (BIL), +$0.35 (4.63%) to $7.91 on volume of 16.81m shares;
- Adsteam Marine (ADZ), +$0.07 (4.52%) to $1.62 on volume of 626,000 shares;
- Prime Infrastructure Group (PIF), +$0.06 (4.29%) to $1.46 on volume of 1.58m shares; and
- Coates Hire (COA), +$0.12 (2.78%) to $4.44 on volume of 300,000 shares.
Second in the sector leadership stakes was Consumer Discretionary which gained 0.49% to 2245.70 points. The sector leaders were -
- Aristocrat Leisure (ALL), +$0.30 (2.92%) to $10.56 on volume of 1.12m shares;
- News Corporation (NWSLV), +$0.40 (1.96%) to $20.83 on volume of 6.48m shares;
- News Corporation (NWS), +$0.35 (1.66%) to $21.49 on volume of 6.72m shares;
- Seven Network (SEV), +$0.12 (1.58%) to $7.71 on volume of 902,000 shares; and
- Billabong International (BBG), +$0.13 (0.98%) to $13.33 on volume of 1.91m shares.
The bronze today went to Consumer Staples which gained 0.32% to 5354.80 points. The sector was led by
- Futuris Corporation (FCL), +$0.06 (2.96%) to $2.09 on volume of 3.8m shares;
- Burns, Philp & Company (BPC), +$0.02 (2.13%) to $0.96 on volume of 4.43m shares;
- Coles Myer Ltd. (CML), +$0.17 (1.85%) to $9.37 on volume of 3.42m shares;
- Coca-Cola Amatil (CCL), +$0.11 (1.4%) to $7.97 on volume of 1.46m shares; and
- Woolworths (WOW), +$0.07 (0.48%) to $14.78 on volume of 1.32m shares.
The worst-performed sector today was Property Trusts which lost 2.02% to 1763.50 points. The sector was dragged lower by
- Multiplex Group (MXG), -$0.94 (16.85%) to $4.64 on volume of 19.14m shares;
- General Property Trust (GPT), -$0.10 (2.67%) to $3.65 on volume of 4.03m shares; and
- Macquarie Office Trust (MOF), -$0.03 (2.38%) to $1.23 on volume of 2.45m shares;
- Valad Property Group (VPG), -$0.03 (2.34%) to $1.25 on volume of 966,000 shares; and
- Investa Property Group (IPG), -$0.04 (1.96%) to $2.00 on volume of 3.37m shares.
Just in front of last place on the sector table was Utilities which lost 1.44% to 4612.50 points. The sector was pulled down by
- Alinta (ALN), -$0.42 (4.86%) to $8.23 on volume of 1.41m shares;
- Diversified Utility And Energy Trusts (DUE), -$0.03 (1.2%) to $2.47 on volume of 509,000 shares;
- Australian Gas Light Company (AGL), -$0.08 (0.57%) to $14.06 on volume of 1.54m shares;
- Pacific Hydro (PHY), -$0.01 (0.23%) to $4.39 on volume of 303,000 shares; and
- Australian Pipeline Trust (APA), -$0.00 (0%) to $3.85 on volume of 127,000 shares.
| Code | GICS Sector | Close | +/- | % | Volume |
| XNJ | Industrials | 4986.8 | 95.6 | 1.95% | 57.9m |
| XDJ | Consumer Discretionary | 2245.7 | 10.9 | 0.49% | 54.75m |
| XSJ | Consumer Staples | 5354.8 | 17 | 0.32% | 24.04m |
| XHJ | Healthcare | 4754.4 | 4.7 | 0.1% | 15.66m |
| XMJ | Materials | 7213 | -58.1 | -0.8% | 114.42m |
| XEJ | Energy | 7494.4 | -61 | -0.81% | 21.62m |
| XTJ | Telecommunications | 1852.4 | -17.2 | -0.92% | 18.92m |
| XXJ | ASX200 Financials ex Property Trusts | 4882.9 | -48.4 | -0.98% | 76.07m |
| XFJ | Financials | 4825.5 | -59.1 | -1.21% | 163.4m |
| XIJ | Information Technology | 366 | -4.7 | -1.27% | 9.69m |
| XUJ | Utilities | 4612.5 | -67.3 | -1.44% | 4.83m |
| XPJ | Property Trusts | 1763.5 | -36.4 | -2.02% | 89.81m |
All Ordinaries Volume Leaders
| Code | Name | Close | +/- | % | Volume |
| RMI | Resource Mining Corporation | 0.14 | -0.01 | -3.45% | 20.91m |
| MXG | Multiplex Group | 4.64 | -0.94 | -16.85% | 19.14m |
| AZR | Aztec Resources | 0.23 | 0.01 | 2.22% | 18.15m |
| AUO | Austral Coal | 1.21 | 0.07 | 6.14% | 17.65m |
| TLS | Telstra Corporation. | 5.24 | -0.05 | -0.95% | 17.17m |
| BIL | Brambles Industries | 7.91 | 0.35 | 4.63% | 16.81m |
All Ordinaries Top Gainers
| Code | Name | Close | +/- | % | Volume |
| PSD | Psivida | 1.07 | 0.11 | 11.46% | 850369 |
| CSM | Consolidated Minerals | 3.57 | 0.33 | 10.19% | 928096 |
| MYO | MYOB | 1.23 | 0.11 | 9.82% | 3.71m |
| ERA | Energy Resources Of Australia | 12 | 0.95 | 8.6% | 101919 |
| ALU | Altium | 0.38 | 0.03 | 8.57% | 366928 |
All Ordinaries Top Losers
| Code | Name | Close | +/- | % | Volume |
| PLT | Polartechnics | 0.34 | -0.04 | -9.33% | 273983 |
| SFC | Schaffer Corporation | 9.46 | -0.94 | -9.04% | 52626 |
| BBB | B Digital | 0.52 | -0.04 | -7.14% | 495916 |
| SDG | Sunland Group | 2.23 | -0.17 | -7.08% | 475740 |
| BOC | Bougainville Copper | 0.54 | -0.04 | -6.9% | 245666 |
Elsewhere in the Region...
Japan's Nikkei 225 rose 57.68 points (0.50%) to close at 11557.86 points. [Note to self: don't be a lazy-ass; get the damned Nikkei analytics set up].
The Kiwi Market declined 0.93 points (-0.03%). A total of 16 stocks within the NZSE50 rose, with volume in advancers totalling 15.3million units. Decliners numbered 22, and total volume traded in losers was 5.3million shares. Individual stocks that were a but suck included...
- Tower Limited (TWR), -$0.09 (4.62%) to $1.86 on volume of 531,000 shares;
- Baycorp Advantage (BCA), -$0.10 (3.08%) to $3.15 on volume of 169,000 shares;
- Tenon Limited (TEN), -$0.13 (2.78%) to $4.55 on volume of 24,000 shares;
- Promina Group (PMN), -$0.15 (2.75%) to $5.30 on volume of 145,000 shares; and
- Fisher & Paykel (FPH), -$0.08 (2.61%) to $2.99 on volume of 1.87m shares.
Hong Kong's Hang Seng index advanced 21.37 points (0.15%). Within the Hang Seng, 13 index components rose, while 11 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 48.4million units, and total volume traded in losers was 13.7million shares. Individual stocks that contributed to the advance included...
- Esprit Holdings (0330), +$4.75 (10.11%) to $51.75 on volume of 10.91m shares;
- Lenovo Group (0992), +$0.03 (1.15%) to $2.20 on volume of 4.65m shares;
- Li & Fung (0494), +$0.10 (0.77%) to $13.10 on volume of 5.08m shares;
- China Merchant Holdings (0144), +$0.10 (0.64%) to $15.65 on volume of 1.6m shares;
- Henderson Land (0012), +$0.20 (0.55%) to $36.30 on volume of 528,000 shares; and
- Yue Yuen Industries (0551), +$0.10 (0.48%) to $20.95 on volume of 318,000 shares.
| Country | Name | Close | +/- | % | Volume |
| New Zealand | NZSE50 | 3145.391 | -0.93 | -0.03% | 23.41m |
| Japan | Nikkei 225 | 11557.86 | 57.68 | 0.5% | 49115 |
| Korea | KOSPI | 986.9 | 18.47 | 1.91% | 502340 |
| Singapore | Straits Times | 2156.46 | 20.04 | 0.94% | 0 |
| Hong Kong | Hang Seng | 13979.31 | 21.37 | 0.15% | 141.91m |
| Malaysia | KLSE Comp | 902.97 | 3.29 | 0.37% | 0 |
