daytrading march 21 afternoon

Thanks Endless.

Half-time round-up:

The share market is threatening its first four-session losing run since November despite strong Chinese manufacturing data announced this morning.

At lunchtime the ASX 200 was five points or 0.1% weaker at 4961, led by falls in industrials -0.7%, consumer staples -1.2% and utilities -1.1%. A handful of rising sectors included energy +0.2%, health +0.2% and telecoms +0.$%. The declines came despite rallies in Japan today and Europe and the US overnight after the US Federal Reserve renewed its commitment to low interest rates and its bond-buying program.

"Investors rediscovered their appetite for riskier assets as concerns about Cyprus began to ease and investors refocused on the improving US economy," Perpetual Investments head of investment research Matthew Sherwood told MarketWatch.

The market fell into the red before the 12.45pm EST release of Chinese manufacturing data that exceeded economists' expectations. The HSBC flash manufacturing PMI improved to 51.7 from 50.4 last month. Market expectations had centred around a reading of 51.4.

The Shanghai Composite fell 0.1% and Hong Kong's Hang Seng dipped 0.02%. Japan's Nikkei re-opened following a public holiday with a rally of 1.21%. Dow futures were recently up three points or less than 0.1%.

Crude oil futures were unchanged this morning at US$93.24 a barrel. Spot gold was $2 stronger at US$1,606.90 an ounce. The dollar was buying $US1.0386.


Commiserations once again to long-suffering holders of BBG. Been one disappointment after another. The company says it doesn't know what's going on but someone with deep pockets obviously did this morning. Prosecutions to follow shortly? Some chance. The ASX still appears to be the wild west, so far as inside trading is concerned. Shameful.