Afternoon trading September 24

Thanks Grundlebundle and morning crew.


Half-time round-up:

The ASX 200 slipped further below 6200 as public holidays in Asia muddied the reaction to weekend news that China abandoned trade talks with the US.

The benchmark index 200 dropped five points or 0.1% to 6190 mid-session, with traders reluctant to push higher until Wall Street and China have responded to the latest trade setback. S&P 500 futures in the US were recently down 5.95 points or 0.2%. While trading in China, Japan and South Korea was suspended for public holidays, Hong Kong's Hang Seng dropped 1.22%.

“The markets have started the week on the back foot after China pulled out of scheduled talks with the US just hours before the next round of tit for tat tariffs are due to be introduced,” Rakuten Securities Australia told CNBC.

A mixed market saw gains in energy stocks +1.1%, telecoms +0.2% and consumer discretionary +0.3% outweighed by declines in the gold sector -3.3%, health -0.7%, materials -0.5% and financials -0.1%.

Crude oil futures rallied 78 cents or 1.1% this morning to US$71.56 a barrel. Gold futures dipped 70 cents or 0.06% to US$1,200.60 an ounce. The dollar was buying 72.7 US cents.



Trading: half a pip from FOD and a half from PCL using the Iress centrepoint option. Speculator in 14D at 30c. Watched CPV for a potential capitulation entry, but it seems to have taken off without me. Nonetheless, on the watchlist for now.