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Major Market Indices
The broad market - the ASX All Ordinaries - fell by 30.30 points (-0.71%), finishing at 4225.50 points. The index hit an intraday high of 4255.80 at the opening matchout, and set its low at 4224.3 point with about 12 minutes to go.
All things considered it was an interesting performance, coming as it does with the Australiam market showing some of the most overbought (daily and weekly) conditions of any of the major markets. It's also the market with the second most irresponsible "money management" community (second only to the US)... which means that the pain, when it arrives, will be all the more severe.
The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - fell by 32.60 points (-0.76%), finishing at 4233.80 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders - fell by 17.10 points (-0.74%), finishing at 2289.70 points. Within the index members, there were just two stocks that rose, and 17 losers - and Coles Myer didn't budge (on a close to clsoe basis). Total volume in rising issues within the ASX20 amounted to 48.3m units, while volume in the losers totalled 65.21m units.
The only two winners in the "big guns" were -
- Telstra Corporation. (TLS), +$0.04 (0.73%) to $5.49 on volume of 44.16m shares;
- National Australia Bank (NAB), +$0.05 (0.17%) to $29.20 on volume of 4.14m shares; and
- Coles Myer Ltd. (CML), was unchanged at $9.85 on volume of 5.59m shares.
The following stocks made up the biggest percentage losers in the big-guns:
- Wesfarmers (WES), -$1.07 (2.53%) to $41.30 on volume of 622,000 shares;
- QBE Insurance Group (QBE), -$0.35 (2.27%) to $15.08 on volume of 5.61m shares;
- Alumina (AWC), -$0.10 (1.58%) to $6.22 on volume of 4.07m shares;
- Rio Tinto (RIO), -$0.70 (1.48%) to $46.72 on volume of 2.93m shares; and
- Woolworths (WOW), -$0.24 (1.44%) to $16.45 on volume of 2.34m 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 12.70 points (-0.52%), finishing at 2420.90 points. The major winners in the "pop-guns" were -
- Primelife Corporation (PLF), +$0.10 (9.43%) to $1.16 on volume of 158,000 shares;
- David Jones (DJS), +$0.13 (6.67%) to $2.08 on volume of 7.92m shares;
- Emperor Mines (EMP), +$0.03 (5.43%) to $0.49 on volume of 1,000 shares;
- Macarthur Coal (MCC), +$0.25 (3.6%) to $7.20 on volume of 581,000 shares; and
- Silex Systems (SLX), +$0.04 (3.51%) to $1.18 on volume of 78,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Bendigo Mining (BDG), -$0.09 (6.25%) to $1.35 on volume of 2.12m shares;
- Adsteam Marine (ADZ), -$0.11 (5.7%) to $1.82 on volume of 330,000 shares; and
- Kingsgate Consolidated. (KCN), -$0.14 (5.6%) to $2.36 on volume of 351,000 shares;
- Virotec International (VTI), -$0.03 (4.48%) to $0.64 on volume of 9,000 shares; and
- Oceana Gold (OGD), -$0.03 (4.17%) to $0.69 on volume of 808,000 shares.
| Index Changes | |||||
| Code | Name | Close | +/- | % | Volume |
| XAO | All Ordinaries | 4225.5 | -30.3 | -0.71% | 564.37m |
| XTL | S&P/ASX 20 | 2289.7 | -17.1 | -0.74% | 119.1m |
| XFL | S&P/ASX 50 | 4180.9 | -34 | -0.81% | 0 |
| XTO | S&P/ASX 100 | 3440.1 | -27.3 | -0.79% | 0 |
| XJO | S&P/ASX 200 | 4233.8 | -32.6 | -0.76% | 450.71m |
| XKO | S&P/ASX 300 | 4237.8 | -32.5 | -0.76% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 4069 | -27.8 | -0.68% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2420.9 | -12.7 | -0.52% | 139.88m |
All Ordinaries Market Internals
| Market Breadth | |||||
| XAO | XJO | XSO | ASX20 | Market | |
| Advances | 128 | 54 | 60 | 2 | 355 |
| Declines | 232 | 124 | 93 | 17 | 559 |
| Advancing Volume | 142.68m | 127.42m | 56.94m | 48.3 | 407.29 |
| Declining Volume | 330.53m | 288.66m | 57.23m | 65.21 | 550.82 |
S&P/ASX200 GICS Sector Indices
The top sector for the day - in fact the only sector that closed higher than yesterday - was Telecommunications which gained 0.63% to 1940.60 points. Telstra rose, and that is the only reason that the sector rose...
- Telstra Corporation (TLS), +$0.04 (0.73%) to $5.49 on volume of 44.16m shares;
- Telecom Corporation Of New Zealand (TEL), unchanged at $5.88 on volume of 2.13m shares.
Second-placed sector for the day was a loser... Utilities lost -0.17% to 4790.90 points. Again, only two stocks in the hwoe sector actually managed a gain...
- Alinta (ALN), +$0.11 (1.24%) to $9.00 on volume of 458,000 shares; and
- Australian Pipeline Trust (APA), +$0.03 (0.76%) to $3.97 on volume of 185,000 shares/
Since the second placed sector lost ground, then a fortiori it means that the third placed sector lost at least as much. So there's no bronze today - the third-best sector (Healthcare) had a loss of -0.23% to 4962.20 points. The sector was dragged lower by
- DCA Group (DVC), -$0.09 (2.49%) to $3.53 on volume of 1.28m shares;
- Healthscope (HSP), -$0.10 (2.25%) to $4.35 on volume of 342,000 shares; and
- Mayne Group (MAY), -$0.05 (1.23%) to $4.02 on volume of 3.54m shares;
- Resmed Inc (RMD), -$0.07 (0.96%) to $7.20 on volume of 293,000 shares; and
- CSL (CSL), -$0.18 (0.51%) to $35.07 on volume of 564,000 shares.
The worst-performed sector today was Information Technology which lost 1.88% to 381.00 points. The sector was dragged lower by
- Baycorp (BCA), -$0.10 (3.28%) to $2.95 on volume of 171,000 shares;
- Computershare (CPU), -$0.13 (2.22%) to $5.73 on volume of 1.68m shares;
- Vision Systems (VSL), -$0.01 (0.83%) to $1.19 on volume of 272,000 shares;
- MYOB (MYO), unchanged at $1.11 on volume of 477,000 shares; and
- Infomedia Ltd (IFM), unchanged at $0.62 on volume of 198,000 shares.
Just in front of last place on the sector table was Industrials which lost 1.62% to 5128.20 points. The sector was pulled down by
- Adsteam Marine (ADZ), -$0.11 (5.7%) to $1.82 on volume of 330,000 shares;
- Patrick Corporation (PRK), -$0.24 (3.76%) to $6.15 on volume of 5.76m shares; and
- Patrick Corporation (PRK), -$0.24 (3.76%) to $6.15 on volume of 5.76m shares;
- Hills Motorway Group (HLY), -$0.31 (2.76%) to $10.91 on volume of 728,000 shares; and
- Wesfarmers (WES), -$1.07 (2.53%) to $41.30 on volume of 622,000 shares.
| Sector Indices | |||||
| Code | GICS Sector | Close | +/- | % | Volume |
| XTJ | Telecommunications | 1940.6 | 12.1 | 0.63% | 46.29m |
| XUJ | Utilities | 4790.9 | -8 | -0.17% | 4.13m |
| XHJ | Healthcare | 4962.2 | -11.5 | -0.23% | 10.41m |
| XDJ | Consumer Discretionary | 2345.5 | -8.8 | -0.37% | 48.9m |
| XXJ | ASX200 Financials ex Property Trusts | 4988.4 | -28.5 | -0.57% | 53.88m |
| XFJ | Financials | 4910.7 | -29.7 | -0.6% | 148.79m |
| XPJ | Property Trusts | 1770.2 | -12.6 | -0.71% | 99.53m |
| XEJ | Energy | 8470.3 | -69.8 | -0.82% | 20.64m |
| XSJ | Consumer Staples | 5682.6 | -47.2 | -0.82% | 31.89m |
| XMJ | Materials | 7452.1 | -97 | -1.28% | 107.49m |
| XNJ | Industrials | 5128.2 | -84.7 | -1.62% | 43.57m |
| XIJ | Information Technology | 381 | -7.3 | -1.88% | 6.73m |
All Ordinaries Major Movers
| All Ords Volume Leaders | |||||
| Code | Name | Close | +/- | % | Volume |
| RTM | Reefton Mining | 0.17 | 0.04 | 25.93% | 76.94m |
| TLS | Telstra Corporation. | 5.49 | 0.04 | 0.73% | 44.16m |
| ADY | Admiralty Resources. | 0.19 | 0 | 0% | 35.92m |
| DRT | DB Rreef Trust | 1.3 | -0.01 | -0.76% | 15.95m |
| GPT | General Property Trust | 3.55 | -0.04 | -1.11% | 15.23m |
| ORI | Orica | 19.32 | -0.52 | -2.62% | 11.22m |
| All Ords Percentage Gainers | |||||
| Code | Name | Close | +/- | % | Volume |
| MXL | MXL | 0.11 | 0.01 | 11.7% | 3.13m |
| PLF | Primelife Corporation | 1.16 | 0.1 | 9.43% | 158475 |
| DJS | David Jones | 2.08 | 0.13 | 6.67% | 7.92m |
| MST | Metal Storm | 0.2 | 0.01 | 5.41% | 4.1m |
| LOK | Looksmart | 1.12 | 0.05 | 4.67% | 52427 |
| All Ords Percentage Decliners | |||||
| Code | Name | Close | +/- | % | Volume |
| GDM | Goldstream Mining | 0.47 | -0.06 | -10.58% | 645097 |
| UNW | Unwired Group | 0.54 | -0.06 | -10% | 611330 |
| BDG | Bendigo Mining | 1.35 | -0.09 | -6.25% | 2.12m |
| ADZ | Adsteam Marine | 1.82 | -0.11 | -5.7% | 330163 |
| KCN | Kingsgate Consolidated. | 2.36 | -0.14 | -5.6% | 350965 |
Elsewhere in the Region...
Japan's Nikkei 225 recovered from a 50-point early decline to be down just 3.51 points (-0.03%) at 11876.3 points as this goes to "print". Between the market open and 11 a.m. Tokyo time, the Nikkei formed a textbook little intraday triangle, and looks to have broken upwards out of that formation. With triangles, the "measured move" target from a triangle break, is the same as the price between the highest and lowest point of the triangle... which gave a target of 11887, which also happens to be as close to the session high as makes no odds. The upshot: all the markets are trading "by the numbers", and the numebrs are purely technical. That's not a good sign... it means that nobody is doing any analysis.
The Kiwi Market declined 13.50 points (-0.43%) - basially a coast-to-coast decline. A total of 11 stocks within the NZSE50 rose, with volume in advancers totalling 2.5million units. Decliners numbered 27, and total volume traded in losers was 2.6million shares. Individual stocks that were a but suck included...
- Baycorp Advantage (BCA), -NZ$0.08 (2.48%) to NZ$3.15 on volume of 31,000 shares;
- Fisher & Paykel A (FPA), -NZ$0.07 (2.29%) to NZ$2.99 on volume of 369,000 shares;
- Nuplex Industries (NPX), -NZ$0.10 (1.96%) to NZ$5.00 on volume of 51,000 shares;
- Mainfreight Limited (MFT), -NZ$0.05 (1.96%) to NZ$2.50 on volume of 11,000 shares; and
- Port Of Tauranga (POT), -NZ$0.10 (1.92%) to NZ$5.10 on volume of 32,000 shares.
Hong Kong's Hang Seng index was down 27.02 points (-0.20%) as this was being prepared. Within the Hang Seng, 6 index components rose, while 19 stocks fell. Volume in the gainers in Hong Kong's big-cap index totalled 9.8million units, and total volume traded in losers was 89.4million shares. Individual stocks that contributed to the decline included...
- Cosco Pacific (1199), -HK$0.35 (1.97%) to HK$17.45 on volume of 1.52m shares;
- CNOOC (0883), -HK$0.08 (1.65%) to HK$4.48 on volume of 31.08m shares;
- Wharf Holdings (0004), -HK$0.35 (1.35%) to HK$25.60 on volume of 928,000 shares;
- Swire Pacific A (0019), -HK$0.75 (1.14%) to HK$65.00 on volume of 965,000 shares;
- CKI Holdings (1038), -HK$0.25 (1.06%) to HK$23.30 on volume of 167,000 shares; and
- Lenovo Group (0992), -HK$0.03 (1%) to HK$2.48 on volume of 24.83m shares.
| Regional Indices | |||||
| Country | Name | Close | +/- | % | Volume |
| New Zealand | NZSE50 | 3127.335 | -13.5 | -0.43% | 6.36m |
| Japan | Nikkei 225 | 11876.3 | -3.51 | -0.03% | 71913 |
| Korea | KOSPI | 983.04 | 3.77 | 0.38% | 463243 |
| Singapore | Straits Times | 2171.41 | -6.11 | -0.28% | 0 |
| Hong Kong | Hang Seng | 13807.33 | -27.02 | -0.2% | 129.92m |
| Malaysia | KLSE Comp | 879.63 | -5.99 | -0.68% | 0 |
