Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
As you can see, the transition back to the old layout is taking longerthan anticipated. No surprises there. What has been surprising is the continued relative strength of Asian markets. Not today, obviously. But it is still the case that my prognostication regarding the entirely-foreseeable bounce off the September lows (i.t., that it would only result in a marginal new high at best) was spot-on for the US, but Australia and Hong Kong (in particular) have been on a maniacal outperformance binge. Clearly people woke up to China (five years after anyone with half a brain) and also thought "China strong... Straya close China... Straya dig up dirt, send to China... Straya good".
That's what passes for analysis these days.
Major Market Indices
The broad market - the All Ordinaries (XAO) - dipped reasonably hard, registering a loss of 84.1 points (1.27%), finishing at 6523.3 points. The index hit an intraday high just above 6620 (call it 6625-ish) just after 11:10 a.m. (during a period of about half an hour during whch the index was above yesterday's close). the low for the day was 6512.4 - set in the last half hour of trade.
Total volume traded on the ASX was 1.69 billion units, about 5% below its 10-day average. The ASX's daily listing of all stocks included 1494 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 347 issues rose, with volume in rising issues totalling 416.9 million units. Conversely (or even contrariwise), 878 stocks were dragged below the Plimsoll line, with aggregate volume traded of 1.11 billion shares.
Of the 487 All Ordinaries components, 86 rose while 340 fell. Volume was tilted in favour of the losers by a margin of 5.7:1, with 105.29 million shares traded in gainers while 603.26 million shares traded in the day's losers.
The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - registered a loss of 90.4 points (1.38%), closing out the session at 6455.3 points.
The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - slid modestly, falling 30.6 points (0.85%), closing out the session at 3557.6 points.
Among the 20 big guns, 3 index components finished to the upside, and of the rest, 14 closed lower for the session. The 21 stocks which make up the index traded a total of 187.46 million units; 3 index components rose, with rising volume amounting to 15.68 million shares, while the 14 decliners had volume traded totalling 146.84 million units. The major percentage gainers within the index were
- Rio Tinto Limited (RIO), +$9.60 (7.33%) to $140.50 on volume of 9.9 million shares;
- Wesfarmers Limited (WES), +$1.04 (2.73%) to $39.19 on volume of 2.8 million shares; and
- Woolworths Limited (WOW), +$0.33 (1.03%) to $32.36 on volume of 3 million shares.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- Woodside Petroleum Limited (WPL), -$3.24 (5.85%) to $52.10 on volume of 2.5 million shares;
- Brambles Limited (BXB), -$0.49 (3.98%) to $11.81 on volume of 7.8 million shares;
- Westfield Group (WDC), -$0.63 (3.09%) to $19.77 on volume of 5.5 million shares;
- Westpac Banking Corporation (WBC), -$0.81 (2.83%) to $27.81 on volume of 6.4 million shares; and
- Australia And New Zealand Banking Group Limited (ANZ), -$0.74 (2.65%) to $27.21 on volume of 10.2 million shares.
At the other end of the market-cap spectrum lie the denizens of the ASX Small Ordinaries (XSO) - about the only place in the Australian equities maret where there might actually be something worth investing in. The small end of the market had significantly worse day than its large-cap counterpart. The Small Ords was taken to the woodshed somewhat, sliding 86.6 points (2.15%), closing out the session at 3947.1 points.
Among the stocks that make up the Small Caps index, 31 index components finished to the upside, and of the rest, 153 closed lower for the session.
The 197 stocks which make up the index traded a total of 220.24 million units: volume in the 31 gainers totalling 44.98 million shares, with trade totalling 164.4 million units in the index's 153 declining components. The major percentage gainers within the index were- ResMed Inc. (RMD), +$0.22 (4.75%) to $4.85 on volume of 3 million shares;
- Midwest Corporation Limited (MIS), +$0.22 (4.55%) to $5.05 on volume of 2.3 million shares;
- Ridley Corporation Limited (RIC), +$0.04 (3.08%) to $1.17 on volume of 601.8 thousand shares;
- Multiplex Acumen Property Fund (MPF), +$0.04 (3.01%) to $1.37 on volume of 26.4 thousand shares; and
- Queensland Gas Company Limited (QGC), +$0.08 (2.74%) to $3.00 on volume of 2.4 million shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- AED Oil Limited (AED), -$1.25 (14.17%) to $7.57 on volume of 1.8 million shares;
- IBA Health Limited (IBA), -$0.11 (9.63%) to $0.99 on volume of 2.8 million shares;
- Lynas Corporation Limited (LYC), -$0.11 (9.05%) to $1.06 on volume of 1.2 million shares;
- Flight Centre Limited (FLT), -$2.18 (8%) to $25.06 on volume of 219.4 thousand shares; and
- Petsec Energy Limited (PSA), -$0.14 (7.69%) to $1.68 on volume of 895.4 thousand shares.
Index Changes
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XAO | All Ordinaries | 6523.3 | -84.1 | -1.27 | 755m |
| XTL | ASX 20 | 3557.6 | -30.6 | -0.85 | 187.5m |
| XFL | ASX 50 | 6281.5 | -72.2 | -1.14 | 285.2m |
| XTO | ASX 100 | 5216.7 | -67.9 | -1.28 | 444.9m |
| XJO | ASX 200 | 6455.3 | -90.4 | -1.38 | 586.9m |
| XKO | ASX 300 | 6476.3 | -90.9 | -1.38 | 665m |
| XMD | ASX Mid-Cap 50 | 6519 | -141.2 | -2.12 | 159.6m |
| XSO | ASX Small Ordinaries | 3947.1 | -86.6 | -2.15 | 220.1m |
Market Breadth
| ASX20 | XTO | XJO | XAO | XSO | Market | |
|---|---|---|---|---|---|---|
| Advances | 3 | 15 | 29 | 86 | 31 | 347 |
| Declines | 14 | 80 | 161 | 339 | 153 | 878 |
| Advancing Volume | 15.7m | 53.3m | 74.5m | 105.3m | 45m | 416.9 million |
| Declining Volume | 146.8m | 361.2m | 471.8m | 601.8m | 164.4m | 1.11 billion |
GICS Industry Indices
Among the 11 industry indices, 2 registered an advance for the session, the remaining 9 lost ground.
The best performing index was Information Technology (XIJ), which added 18.7 points (3.37%) to 574.4 points. The 2 stocks which make up the index traded a total of 5.84 million units; The lone rising index component had volume amounting to 5.69 million shares, while sole declining stock traded 0 million units. The major percentage gainers within the index were
- Computershare Limited (CPU), +$0.37 (3.93%) to $9.78 on volume of 5.7 million shares.
Second in the index leadership stakes was Consumer Staples (XSJ), which gained 93.7 points (1.1%) to 8595.1 points. The 9 stocks which make up the index traded a total of 46.68 million units; 2 index components rose, with rising volume amounting to 4.18 million shares, while the 5 decliners had volume traded totalling 19.78 million units. The major percentage gainers within the index were
- AWB Limited (AWB), +$0.03 (1.06%) to $2.87 on volume of 1.2 million shares; and
- Woolworths Limited (WOW), +$0.33 (1.03%) to $32.36 on volume of 3 million shares.
The worst-performed index for the session was Energy (XEJ), which dipped 734.5 points (4.51%) to 15558.3 points. The 17 stocks which make up the index traded a total of 41.94 million units; The 15 decliners had volume traded totalling 36.84 million units, and 2 index components rose, with rising volume amounting to 5.1 million shares, The major percentage decliners within the index were
- AED Oil Limited (AED), -$1.25 (14.17%) to $7.57 on volume of 1.8 million shares;
- Straits Resources Limited (SRL), -$0.47 (7.03%) to $6.22 on volume of 1.3 million shares;
- Energy Resources Of Australia Limited (ERA), -$1.37 (5.93%) to $21.72 on volume of 651 thousand shares;
- Woodside Petroleum Limited (WPL), -$3.24 (5.85%) to $52.10 on volume of 2.5 million shares; and
- Santos Limited (STO), -$0.76 (5.5%) to $13.07 on volume of 2.5 million shares.
Just missing out on the wooden spoon was Property Trusts (XPJ), which slid 59.9 points (2.58%) to 2263.3 points. The 20 stocks which make up the index traded a total of 74.75 million units; The 19 decliners had volume traded totalling 70.95 million units, and volume in the lone rising index component was 0 million shares, The major percentage decliners within the index were
- Macquarie DDR Trust (MDT), -$0.05 (4.09%) to $1.06 on volume of 1.9 million shares;
- Macquarie Office Trust (MOF), -$0.06 (3.82%) to $1.51 on volume of 4.8 million shares;
- Apn/Uka European Retail Property Group (AEZ), -$0.05 (3.64%) to $1.19 on volume of 506.5 thousand shares;
- Centro Properties Group (CNP), -$0.23 (3.5%) to $6.34 on volume of 4.8 million shares; and
- Mirvac Group (MGR), -$0.2 (3.42%) to $5.64 on volume of 9.6 million shares.
Third-to-last amongst the sector indices was Industrials (XNJ), which slid 142.4 points (2.05%) to 6814.9 points. The 32 stocks which make up the index traded a total of 61.86 million units; The 25 decliners had volume traded totalling 50.55 million units, and 7 index components rose, with rising volume amounting to 11.3 million shares, The major percentage decliners within the index were
- Emeco Holdings Ltd (EHL), -$0.08 (6.36%) to $1.11 on volume of 7.7 million shares;
- Downer Edi Limited (DOW), -$0.27 (5.23%) to $4.89 on volume of 1.5 million shares;
- Boom Logistics Limited (BOL), -$0.13 (4.42%) to $2.81 on volume of 772.9 thousand shares;
- Brambles Limited (BXB), -$0.49 (3.98%) to $11.81 on volume of 7.8 million shares; and
- Australian Infrastructure Fund (AIX), -$0.12 (3.73%) to $3.10 on volume of 2 million shares.
Sector Indices
| Code | GICS Sector | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| XIJ | Information Technology | 574.4 | 18.7 | 3.37 | 6m |
| XSJ | Consumer Staples | 8595.1 | 93.7 | 1.1 | 47m |
| XTJ | Telecommunications | 1648.4 | -15.2 | -0.91 | 74m |
| XXJ | ASX200 Financials ex Property Trusts | 7424.6 | -81.6 | -1.09 | 60m |
| XMJ | Materials | 15274.7 | -179.4 | -1.16 | 143m |
| XUJ | Utilities | 6759.2 | -96.8 | -1.41 | 24m |
| XHJ | Healthcare | 8932.8 | -139.5 | -1.54 | 15m |
| XDJ | Consumer Discretionary | 2642.2 | -52.7 | -1.96 | 40m |
| XNJ | Industrials | 6814.9 | -142.4 | -2.05 | 62m |
| XPJ | Property Trusts | 2263.3 | -59.9 | -2.58 | 75m |
| XEJ | Energy | 15558.3 | -734.5 | -4.51 | 42m |
All Ordinaries Major Movers
All Ords Volume Leaders
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| TLS | Telstra Corporation Limited. | 4.64 | -0.04 | -0.85 | 42.3m |
| ERG | ERG Limited | 0.10 | -0.02 | -20 | 27.7m |
| BHP | BHP Billiton Limited | 41.68 | -0.79 | -1.86 | 26.9m |
| TLSCA | Telstra (Installment Receipts) | 3.12 | -0.06 | -1.89 | 25.5m |
| CGJ | Coles Group Limited | 15.25 | 0.00 | 0 | 19.5m |
All Ords Percentage Gainers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| EZL | Euroz Limited | 5.50 | 0.39 | 7.63 | 7.9k |
| RIO | Rio Tinto Limited | 140.50 | 9.60 | 7.33 | 9.9m |
| PMM | Portman Limited | 10.86 | 0.73 | 7.21 | 61.7k |
| CUV | Clinuvel Pharmaceuticals Limited | 0.46 | 0.03 | 6.98 | 93k |
| CNA | Coal & Allied Industries Limited | 80.08 | 4.67 | 6.19 | 5.6k |
All Ords Percentage Losers
| Code | Name | Close | +/- | % | Volume |
|---|---|---|---|---|---|
| ERG | ERG Limited | 0.10 | -0.02 | -20 | 27.7m |
| AED | AED Oil Limited | 7.57 | -1.25 | -14.17 | 1.8m |
| BOC | Bougainville Copper Limited | 1.20 | -0.15 | -11.11 | 32.4k |
| IBA | IBA Health Limited | 0.99 | -0.11 | -9.63 | 2.8m |
| MBP | Metabolic Pharmaceuticals Limited | 0.05 | -0.01 | -9.09 | 1.5m |
