The share market pared early losses after domestic economic data came in mixed and a slowdown in Chinese inflation lifted Chinese shares.
At lunchtime the ASX 200 was four points or 0.1% weaker at 5312 after earlier falling as low as 5295. Consumer staples +0.5% and energy +0.3% were the only sectors to make progress. Notable declines included gold -1.1%, metals & mining -0.3% and the Small Ords -0.4%.
The consumer discretionary sector fell 0.5% despite better November sales than analysts expected. Retail sales increased by 0.7%, their seventh straight increase and ahead of the 0.4% rise predicted by economists. Read more here.
Building approvals declined for a second month. Approvals to build or renovate slipped 1.5% in November from the October reading. The decline followed a 1.6% retreat in October. Read more here.
An improved inflation reading helped China's Shanghai Composite shake off early losses. The consumer price index rose 2.5% from a year earlier, versus expectations for a reading of 2.7% and a November figure of 3%. Shanghai shares were lately up 0.23%. Read more here.
Hong Kong's Hang Seng lost 0.09% and Japan's Nikkei 1.23%. Dow futures were recently unchanged.
Crude oil futures put on seven cents this morning to US$92.61 a barrel. Spot gold recouped $3.60 at US$1,227.50 an ounce. The dollar was buying 88.96 US cents.
The daily declines are light but that's a nasty little rounding top forming on the XJO. Market has not risen since the first day of the year. Time to change the record, methinks. Let's hope Shanghai leads the charge this arvo. I had one of those mornings that might have been a ripper if not for the curse of the part-filled order. Been tracking FGE all week and when it finally takes off I have only a quarter-fill in the tank. Similar problems with NCR, but GXY takes the biscuit - holding 96 shares from 5.4c. Woo-hoo. Only full fill was in BDR and it's gone nowhere, lol.
