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Well, well, well. No intra-session bounce; no matter (as any SPISpy subscriber will tell you, there was no action prescribed during the session... the test of the mid 4900s happened WAY too late). The most likely outcome for the session was a plunge in the first half-hour, a wee bounce, a re-test of the first-hour low and then a rip-snorting, short-scrotum-tearing bounce. Instead the thing took its time to get downside traction... it meandered downwards - relentlessly, but with no real conviction - for the first hour or so, and then went sideways for ages at the session low... before another 45° slide in the last two hours. There was no plunge, no sign of big short lots being initiated - this was fairly organised long liquidation. So we bide our time and wait for the US session (at which time the plunge - weak bounce - test of low - sharp bounce scenario is the most likely).
Major Market Indices
The broad market - the ASX All Ordinaries (XAO) - fell by 113.40 points (-2.27%), finishing at 4878.50 points. The opened at its intraday high 4991.90 and slid and slid and slid pretty much the whole session - it closed at its low.
Total volume traded on the ASX was 1.32 billion units, 25.9% above its 10-day average. Of the 498 active stocks in the index, 239 fell while 51 managed a gain. Volume was tilted in favour of the losers by a margin of 8:1, with 594.58 million shares traded in losers while 73.96 million shares traded in the day's gainers. As far as the daily technicals are concerned, this will look like a 'selling spike' (almost 90% downside volume, over 80% decliners in the A/D) even though the intraday action was not indicative of selling panic and there were no obvious signs of heavy shorting (today's Short Report will confirm that - once the ASX gets waround to posting short interest changes... tomorrow).
The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - fell by 118.30 points (-2.35%), finishing at 4907.20 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - fell by 75.10 points (-2.75%), finishing at 2654.70 points. Every component of the index fell. Total volume in ASX20 members was 150.82m units, nd it was all downside volume.
The following stocks made up the biggest percentage losers in the big-guns:- Woodside Petroleum (WPL), -$2.040 (4.73%) to $41.110 on volume of 3.52m shares;
- BHP Billiton (BHP), -$1.30 (4.67%) to $26.55 on volume of 33.91m shares;
- Rio Tinto (RIO), -$3.50 (4.53%) to $73.72 on volume of 4.46m shares;
- Macquarie Bank (MBL), -$2.80 (4.27%) to $62.80 on volume of 1.16m shares;
- National Australia Bank (NAB), -$0.98 (2.81%) to $33.87 on volume of 4.88m shares.
At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) fell by 58.90 points (-2.07%), finishing at 2786.70 points. The major winners in the "pop-guns" were -
- Nylex (NLX), +$0.006 (12.24%) to $0.055 on volume of 26.8m shares;
- Integrated Group (IWF), +$0.170 (8.95%) to $2.070 on volume of 189,000 shares; and
- Amalgamated Holdings (AHD), +$0.210 (4.42%) to $4.960 on volume of 3,000 shares; and
- Norwood Abbey (NAL), +$0.010 (3.7%) to $0.280 on volume of 320,000 shares; and
- SP Telemedia (SOT), +$0.020 (2.68%) to $0.765 on volume of 707,000 shares.
The losingest-little-guys for the session were (in order of decline):
- Multiemedia (MUL), -$0.001 (11.11%) to $0.008 on volume of 13.31m shares;
- Resolute Mining (RSG), -$0.200 (10.53%) to $1.700 on volume of 743,000 shares; and
- Perilya (PEM), -$0.270 (9.71%) to $2.510 on volume of 1.48m shares; and
- Emperor Mines (EMP), -$0.035 (8.75%) to $0.365 on volume of 471,000 shares; and
- Oceana Gold (OGD), -$0.070 (8.59%) to $0.745 on volume of 2.22m shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 4878.5 | -113.4 | -2.27% | 742.23m |
| XTL | S&P/ASX 20 | 2654.7 | -75.1 | -2.75% | 0 |
| XFL | S&P/ASX 50 | 4798.6 | -120.4 | -2.45% | 284.51m |
| XTO | S&P/ASX 100 | 3984 | -97.4 | -2.39% | 499.07m |
| XJO | S&P/ASX 200 | 4907.2 | -118.3 | -2.35% | 604.6m |
| XKO | S&P/ASX 300 | 4903.8 | -118.3 | -2.36% | 0 |
| XMD | S&P/ASX Mid-Cap 50 | 4960.9 | -102.8 | -2.03% | 0 |
| XSO | S&P/ASX Small Ordinaries | 2786.7 | -58.9 | -2.07% | 197.76m |
All Ordinaries Market Internals
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 0 | 11 | 22 | 51 | 30 | 240 |
| Declines | 20 | 77 | 144 | 239 | 118 | 805 |
| Advancing Volume | 0m | 32.77m | 39.06m | 73.96 | 42.98 | 155.67 |
| Declining Volume | 150.82m | 419.34m | 504.8m | 594.58 | 135.76 | 1017.34 |
S&P/ASX200 GICS Sector Indices
The only sector that registered a gain for the day was XIJ Information Technology which gained 0.06% to 485.50 points. The only stock in the sector that rose was Computershare...
- Computershare (CPU), +$0.100 (1.32%) to $7.700 on volume of 1.52m shares
The worst-performed sector today was XMJ Materials which lost 4.01% to 10030.80 points. The sector was dragged lower by
- Oxiana (OXR), -$0.240 (7.84%) to $2.820 on volume of 19.98m shares;
- Kingsgate Consolidated (KCN), -$0.350 (7.2%) to $4.510 on volume of 229,000 shares;
- Kimberley Diamond Company (KIM), -$0.100 (7.14%) to $1.300 on volume of 754,000 shares;
- Zinifex (ZFX), -$0.770 (7.06%) to $10.130 on volume of 9.36m shares; and
- Lihir Gold (LHG), -$0.200 (6.56%) to $2.850 on volume of 21.97m shares.
Just in front of last place on the sector table was XEJ Energy which lost 3.83% to 11648.70 points. The sector was pulled down by
- Hardman Resources (HDR), -$0.120 (7.43%) to $1.495 on volume of 11.83m shares;
- Oil Search (OSH), -$0.210 (4.99%) to $4.000 on volume of 4.02m shares;
- Worleyparsons (WOR), -$1.000 (4.87%) to $19.550 on volume of 1.72m shares;
- Woodside Petroleum (WPL), -$2.040 (4.73%) to $41.110 on volume of 3.52m shares; and
- Tap Oil (TAP), -$0.070 (3.7%) to $1.820 on volume of 722,000 shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XIJ | Information Technology | 485.5 | 0.3 | 0.06% | 4.9m |
| XFJ | Financials | 5733.3 | -110.6 | 0% | 219.25m |
| XUJ | Utilities | 5801.6 | -25 | -0.43% | 5.23m |
| XPJ | Property Trusts | 1971.4 | -16.6 | -0.84% | 170.43m |
| XHJ | Healthcare | 6376.5 | -90.8 | -1.4% | 11.75m |
| XNJ | Industrials | 5330.7 | -81 | -1.5% | 70.62m |
| XSJ | Consumer Staples | 6116.6 | -104.9 | -1.69% | 29.07m |
| XDJ | Consumer Discretionary | 2280.9 | -42.7 | -1.84% | 35.5m |
| XTJ | Telecommunications | 1306.1 | -25 | -1.88% | 35.58m |
| XXJ | ASX200 Financials ex Property Trusts | 5901 | -131.8 | -2.18% | 57.35m |
| XEJ | Energy | 11648.7 | -463.8 | -3.83% | 33.94m |
| XMJ | Materials | 10030.8 | -418.5 | -4.01% | 146.36m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| BHP | BHP Billiton | 26.55 | -1.3 | -4.67% | 33.91m |
| TLS | Telstra Corporation | 3.73 | -0.07 | -1.84% | 32.63m |
| MCW | Macquarie Countrywide Trust | 1.94 | -0.01 | -0.51% | 30.43m |
| DRT | DB Rreef Trust | 1.49 | 0 | 0% | 27.35m |
| LHG | Lihir Gold | 2.85 | -0.2 | -6.56% | 21.97m |
| OXR | Oxiana | 2.82 | -0.24 | -7.84% | 19.98m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| PBD | Port Bouvard | 2.62 | 0.35 | 15.42% | 248597 |
| NLX | Nylex | 0.055 | 0.006 | 12.24% | 26.8m |
| IWF | Integrated Group | 2.07 | 0.17 | 8.95% | 188991 |
| BCL | Betcorp | 4 | 0.2 | 5.26% | 251462 |
| TAW | Tawana Resources | 0.33 | 0.02 | 4.76% | 197200 |
All Ords Percentage Decliners
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| CAG | Cape Range Wireless | 0.009 | -0.002 | -18.18% | 8.47m |
| GDM | Goldstream Mining | 0.48 | -0.06 | -11.21% | 138890 |
| MUL | Multiemedia | 0.008 | -0.001 | -11.11% | 13.31m |
| RSG | Resolute Mining | 1.7 | -0.2 | -10.53% | 742747 |
| PEM | Perilya | 2.51 | -0.27 | -9.71% | 1.48m |
Elsewhere in the Region...
Regional Indices
| Country | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| New Zealand | NZSE50 | 3645.987 | -7.7 | -0.21% | 28.39m |
| Japan | Nikkei 225 | 14633.03 | -462.98 | -3.07% | -na- |
| Korea | KOSPI | 1223.13 | -43.71 | -3.45% | -na- |
| Singapore | Straits Times | 2289.99 | -65.44 | -2.78% | -na- |
| Hong Kong | Hang Seng | 15537.66 | -278.89 | -1.76% | 223.62m |
| Malaysia | KLSE Comp | 916.18 | -7.39 | -0.8% | -na- |
