ASX Market Open: Concerns about Chinese data push Aussie stocks lower, despite gains on Wall St | November 11, 2024

The Market Herald11-11

The ASX200 is set to open 0.53% lower today, despite strong performances on Wall Street at the end of last week, with investors instead reacting to data from China raising questions about the ...

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This raised fears about deflation risks, despite a stimulus package released by Beijing in late September to support the slowing economy.Join ","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BC8.AU":"BLACK CAT SYNDICATE LTD","BK7505":"食品股","FSF.AU":"FONTERRA SHAREHOLDERS FUND","BK7141":"包装食品与肉类","BK7104":"黄金"},"translate_title":"澳大利亚证券交易所开盘：尽管华尔街上涨，但对中国数据的担忧推动澳大利亚股市走低2024年11月11日","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BC8.AU":1,"FSF.AU":1},"content_text":"The ASX200 is set to open 0.53% lower today, despite strong performances on Wall Street at the end of last week, with investors instead reacting to data from China raising questions about the effectiveness of its stimulus package.\nThe S&P 500 rose 0.4%, and hit a new record – going past the 6,000 threshold during the trading session. The Dow also moved up – by 259 points – and closed at a record high of 44,000 for the first time, while the Nasdaq rose slightly.\nChina’s producer prices dropped by 2.9% year-on-year in October 2024, marking the 25th consecutive month of decline in this data and reflecting continually weak domestic demand. Alongside this was data showing that China’s annual inflation rate was 0.3% in October, down from 0.4% the previous month, this being the ninth straight month of consumer inflation but the lowest reading since June. This raised fears about deflation risks, despite a stimulus package released by Beijing in late September to support the slowing economy.\nOn the ASX, Kiwi cooperative Fonterra Shareholders’ Fund (ASX:FSF) increased the midpoint of its forecast farmgate milk price for the 2024/25 season from $NZ9.00 per kilogram milk solid to $NZ9.50. And Black Cat Syndicate Ltd (ASX:BC8) said mining from its Kal East Gold Operation in Western Australia was tracking well, with around 110,000 tonnes of ore mined from the Myhree/Boundary open pits up to the 31st October.\nTo commodities – all in US $ here: Iron ore is $103.82 on the Singapore Exchange, gold’s trading at $2685, Brent crude is $73.87 & natural gas is  $2.67 a gigajoule.\nOne Aussie dollar is buying just under 66 US cents.\nJoin the discussion: See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482218894"}