ASX Update: Stocks Pare Fall after China Cuts Lending Rates

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ASX Update: Stocks Pare Fall after China Cuts Lending Rates

market herald2022-08-22

Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or ...

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The decline mirrored weakness on Wall Street on Friday.Reporting season continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.What’s driving the marketStocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.Both the ASX 200 and S&P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.The market trimmed an initial fall this morning of more than 1 per cent after trading partnerChinacut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.Growth stocks dominated selling as the S&P 500 fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.Going upPayments platform EML surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.The on-going suppressive effect of the pandemic on medical insurance claims helped NIB increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.Nearmap climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.Kiwi telecommunications infrastructure specialist Chorus edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.A return to profit as customers flocked back to the big screen lifted cinema owner Event Hospitality & Entertainment 1.48 per cent. The group reported a full-year profit of $55.3 million.Servo operator Ampol inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.Nick Scali firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.Going downA costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer Adbri down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged RelianceWorldwide down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.Gold miner Ramelius Resources retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.Energy infrastructure group APA eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.Growth stocks wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.Fund manager Magellan skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator Aurizon, down 4.05 per cent.Other marketsThe Asia Dow dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.US futures hinted at a gloomy start to the week. S&P 500 futures declined 16 points or 0.37 per cent.Oil declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.Gold eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.The dollar bounced 0.31 per cent to 68.98 US cents.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9996884503,"gmtCreate":1661144545606,"gmtModify":1676536461681,"author":{"id":"4089116574465250","authorId":"4089116574465250","name":"MrHuattt","avatar":"https://community-static.tradeup.com/news/e67f8f8c2b0192fadc4cd499a84e6c8b","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"4089116574465250","authorIdStr":"4089116574465250"},"htmlText":"Cab","listText":"Cab","text":"Cab","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996884503","repostId":1175981497,"repostType":4,"repost":{"id":"1175981497","kind":"news","pubTimestamp":1661138940,"share":"https://ttm.financial/m/news/1175981497?lang=&edition=fundamental","pubTime":"2022-08-22 11:29","language":"en","title":"ASX Update: Stocks Pare Fall after China Cuts Lending Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1175981497","media":"market herald","summary":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as cent","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/91c64871fe39f1428c9585780ebb012d\" tg-width=\"800\" tg-height=\"430\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.</p><p>The <b>S&amp;P/ASX 200</b> fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.</p><p><b>Reporting season</b> continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.</p><h2>What’s driving the market</h2><p>Stocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.</p><p>Both the ASX 200 and S&amp;P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.</p><p>“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.</p><p>“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.</p><p>The market trimmed an initial fall this morning of more than 1 per cent after trading partner<b>China</b>cut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.</p><p>The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.</p><p>Growth stocks dominated selling as the <b>S&amp;P 500</b> fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.</p><p>“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.</p><p>The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.</p><h2>Going up</h2><p>Payments platform <b>EML</b> surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.</p><p>The on-going suppressive effect of the pandemic on medical insurance claims helped <b>NIB</b> increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.</p><p><b>Nearmap</b> climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.</p><p>Kiwi telecommunications infrastructure specialist <b>Chorus</b> edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.</p><p>A return to profit as customers flocked back to the big screen lifted cinema owner <b>Event Hospitality &amp; Entertainment</b> 1.48 per cent. The group reported a full-year profit of $55.3 million.</p><p>Servo operator <b>Ampol</b> inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.</p><p><b>Nick Scali</b> firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.</p><h2>Going down</h2><p>A costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer <b>Adbri</b> down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.</p><p>A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged <b>RelianceWorldwide</b> down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.</p><p>Gold miner <b>Ramelius Resources</b> retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.</p><p>Energy infrastructure group <b>APA</b> eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.</p><p><b>Growth stocks</b> wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.</p><p>Fund manager <b>Magellan</b> skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator <b>Aurizon</b>, down 4.05 per cent.</p><h2>Other markets</h2><p>The <b>Asia Dow</b> dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.</p><p><b>US futures</b> hinted at a gloomy start to the week. S&amp;P 500 futures declined 16 points or 0.37 per cent.</p><p><b>Oil</b> declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.</p><p><b>Gold</b> eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.</p><p>The <b>dollar</b> bounced 0.31 per cent to 68.98 US cents.</p></body></html>","source":"lsy1645078131697","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Update: Stocks Pare Fall after China Cuts Lending Rates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Update: Stocks Pare Fall after China Cuts Lending Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/><strong>market herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175981497","content_text":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.Reporting season continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.What’s driving the marketStocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.Both the ASX 200 and S&P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.The market trimmed an initial fall this morning of more than 1 per cent after trading partnerChinacut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.Growth stocks dominated selling as the S&P 500 fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.Going upPayments platform EML surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.The on-going suppressive effect of the pandemic on medical insurance claims helped NIB increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.Nearmap climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.Kiwi telecommunications infrastructure specialist Chorus edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.A return to profit as customers flocked back to the big screen lifted cinema owner Event Hospitality & Entertainment 1.48 per cent. The group reported a full-year profit of $55.3 million.Servo operator Ampol inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.Nick Scali firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.Going downA costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer Adbri down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged RelianceWorldwide down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.Gold miner Ramelius Resources retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.Energy infrastructure group APA eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.Growth stocks wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.Fund manager Magellan skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator Aurizon, down 4.05 per cent.Other marketsThe Asia Dow dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.US futures hinted at a gloomy start to the week. S&P 500 futures declined 16 points or 0.37 per cent.Oil declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.Gold eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.The dollar bounced 0.31 per cent to 68.98 US cents.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9996888618,"gmtCreate":1661143906236,"gmtModify":1676536461557,"author":{"id":"3581993357014262","authorId":"3581993357014262","name":"Slee49","avatar":"https://static.tigerbbs.com/a4a9c556617a3ec3446f5c1c667b4aa0","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3581993357014262","authorIdStr":"3581993357014262"},"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996888618","repostId":1175981497,"repostType":4,"repost":{"id":"1175981497","kind":"news","pubTimestamp":1661138940,"share":"https://ttm.financial/m/news/1175981497?lang=&edition=fundamental","pubTime":"2022-08-22 11:29","language":"en","title":"ASX Update: Stocks Pare Fall after China Cuts Lending Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1175981497","media":"market herald","summary":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as cent","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/91c64871fe39f1428c9585780ebb012d\" tg-width=\"800\" tg-height=\"430\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.</p><p>The <b>S&amp;P/ASX 200</b> fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.</p><p><b>Reporting season</b> continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.</p><h2>What’s driving the market</h2><p>Stocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.</p><p>Both the ASX 200 and S&amp;P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.</p><p>“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.</p><p>“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.</p><p>The market trimmed an initial fall this morning of more than 1 per cent after trading partner<b>China</b>cut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.</p><p>The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.</p><p>Growth stocks dominated selling as the <b>S&amp;P 500</b> fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.</p><p>“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.</p><p>The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.</p><h2>Going up</h2><p>Payments platform <b>EML</b> surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.</p><p>The on-going suppressive effect of the pandemic on medical insurance claims helped <b>NIB</b> increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.</p><p><b>Nearmap</b> climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.</p><p>Kiwi telecommunications infrastructure specialist <b>Chorus</b> edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.</p><p>A return to profit as customers flocked back to the big screen lifted cinema owner <b>Event Hospitality &amp; Entertainment</b> 1.48 per cent. The group reported a full-year profit of $55.3 million.</p><p>Servo operator <b>Ampol</b> inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.</p><p><b>Nick Scali</b> firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.</p><h2>Going down</h2><p>A costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer <b>Adbri</b> down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.</p><p>A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged <b>RelianceWorldwide</b> down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.</p><p>Gold miner <b>Ramelius Resources</b> retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.</p><p>Energy infrastructure group <b>APA</b> eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.</p><p><b>Growth stocks</b> wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.</p><p>Fund manager <b>Magellan</b> skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator <b>Aurizon</b>, down 4.05 per cent.</p><h2>Other markets</h2><p>The <b>Asia Dow</b> dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.</p><p><b>US futures</b> hinted at a gloomy start to the week. S&amp;P 500 futures declined 16 points or 0.37 per cent.</p><p><b>Oil</b> declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.</p><p><b>Gold</b> eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.</p><p>The <b>dollar</b> bounced 0.31 per cent to 68.98 US cents.</p></body></html>","source":"lsy1645078131697","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Update: Stocks Pare Fall after China Cuts Lending Rates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Update: Stocks Pare Fall after China Cuts Lending Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/><strong>market herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175981497","content_text":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.Reporting season continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.What’s driving the marketStocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.Both the ASX 200 and S&P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.The market trimmed an initial fall this morning of more than 1 per cent after trading partnerChinacut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.Growth stocks dominated selling as the S&P 500 fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.Going upPayments platform EML surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.The on-going suppressive effect of the pandemic on medical insurance claims helped NIB increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.Nearmap climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.Kiwi telecommunications infrastructure specialist Chorus edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.A return to profit as customers flocked back to the big screen lifted cinema owner Event Hospitality & Entertainment 1.48 per cent. The group reported a full-year profit of $55.3 million.Servo operator Ampol inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.Nick Scali firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.Going downA costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer Adbri down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged RelianceWorldwide down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.Gold miner Ramelius Resources retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.Energy infrastructure group APA eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.Growth stocks wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.Fund manager Magellan skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator Aurizon, down 4.05 per cent.Other marketsThe Asia Dow dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.US futures hinted at a gloomy start to the week. S&P 500 futures declined 16 points or 0.37 per cent.Oil declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.Gold eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.The dollar bounced 0.31 per cent to 68.98 US cents.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9996897940,"gmtCreate":1661140361282,"gmtModify":1676536460770,"author":{"id":"4090202748844200","authorId":"4090202748844200","name":"Turbobo","avatar":"https://static.tigerbbs.com/fbfb7690052b45745da7270aa672c42d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4090202748844200","authorIdStr":"4090202748844200"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996897940","repostId":1175981497,"repostType":4,"repost":{"id":"1175981497","kind":"news","pubTimestamp":1661138940,"share":"https://ttm.financial/m/news/1175981497?lang=&edition=fundamental","pubTime":"2022-08-22 11:29","language":"en","title":"ASX Update: Stocks Pare Fall after China Cuts Lending Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1175981497","media":"market herald","summary":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as cent","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/91c64871fe39f1428c9585780ebb012d\" tg-width=\"800\" tg-height=\"430\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.</p><p>The <b>S&amp;P/ASX 200</b> fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.</p><p><b>Reporting season</b> continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.</p><h2>What’s driving the market</h2><p>Stocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.</p><p>Both the ASX 200 and S&amp;P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.</p><p>“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.</p><p>“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.</p><p>The market trimmed an initial fall this morning of more than 1 per cent after trading partner<b>China</b>cut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.</p><p>The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.</p><p>Growth stocks dominated selling as the <b>S&amp;P 500</b> fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.</p><p>“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.</p><p>The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.</p><h2>Going up</h2><p>Payments platform <b>EML</b> surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.</p><p>The on-going suppressive effect of the pandemic on medical insurance claims helped <b>NIB</b> increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.</p><p><b>Nearmap</b> climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.</p><p>Kiwi telecommunications infrastructure specialist <b>Chorus</b> edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.</p><p>A return to profit as customers flocked back to the big screen lifted cinema owner <b>Event Hospitality &amp; Entertainment</b> 1.48 per cent. The group reported a full-year profit of $55.3 million.</p><p>Servo operator <b>Ampol</b> inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.</p><p><b>Nick Scali</b> firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.</p><h2>Going down</h2><p>A costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer <b>Adbri</b> down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.</p><p>A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged <b>RelianceWorldwide</b> down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.</p><p>Gold miner <b>Ramelius Resources</b> retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.</p><p>Energy infrastructure group <b>APA</b> eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.</p><p><b>Growth stocks</b> wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.</p><p>Fund manager <b>Magellan</b> skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator <b>Aurizon</b>, down 4.05 per cent.</p><h2>Other markets</h2><p>The <b>Asia Dow</b> dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.</p><p><b>US futures</b> hinted at a gloomy start to the week. S&amp;P 500 futures declined 16 points or 0.37 per cent.</p><p><b>Oil</b> declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.</p><p><b>Gold</b> eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.</p><p>The <b>dollar</b> bounced 0.31 per cent to 68.98 US cents.</p></body></html>","source":"lsy1645078131697","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Update: Stocks Pare Fall after China Cuts Lending Rates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Update: Stocks Pare Fall after China Cuts Lending Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/><strong>market herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175981497","content_text":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.Reporting season continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.What’s driving the marketStocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.Both the ASX 200 and S&P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.The market trimmed an initial fall this morning of more than 1 per cent after trading partnerChinacut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.Growth stocks dominated selling as the S&P 500 fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.Going upPayments platform EML surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.The on-going suppressive effect of the pandemic on medical insurance claims helped NIB increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.Nearmap climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.Kiwi telecommunications infrastructure specialist Chorus edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.A return to profit as customers flocked back to the big screen lifted cinema owner Event Hospitality & Entertainment 1.48 per cent. The group reported a full-year profit of $55.3 million.Servo operator Ampol inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.Nick Scali firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.Going downA costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer Adbri down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged RelianceWorldwide down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.Gold miner Ramelius Resources retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.Energy infrastructure group APA eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.Growth stocks wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.Fund manager Magellan skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator Aurizon, down 4.05 per cent.Other marketsThe Asia Dow dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.US futures hinted at a gloomy start to the week. S&P 500 futures declined 16 points or 0.37 per cent.Oil declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.Gold eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.The dollar bounced 0.31 per cent to 68.98 US cents.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9996891931,"gmtCreate":1661139530925,"gmtModify":1676536460601,"author":{"id":"3581839634975057","authorId":"3581839634975057","name":"kokonut","avatar":"https://community-static.tradeup.com/news/8bb8b8df75de79ee19199a14f9a17782","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3581839634975057","authorIdStr":"3581839634975057"},"htmlText":"Kk","listText":"Kk","text":"Kk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996891931","repostId":1175981497,"repostType":4,"repost":{"id":"1175981497","kind":"news","pubTimestamp":1661138940,"share":"https://ttm.financial/m/news/1175981497?lang=&edition=fundamental","pubTime":"2022-08-22 11:29","language":"en","title":"ASX Update: Stocks Pare Fall after China Cuts Lending Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1175981497","media":"market herald","summary":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as cent","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/91c64871fe39f1428c9585780ebb012d\" tg-width=\"800\" tg-height=\"430\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.</p><p>The <b>S&amp;P/ASX 200</b> fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.</p><p><b>Reporting season</b> continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.</p><h2>What’s driving the market</h2><p>Stocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.</p><p>Both the ASX 200 and S&amp;P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.</p><p>“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.</p><p>“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.</p><p>The market trimmed an initial fall this morning of more than 1 per cent after trading partner<b>China</b>cut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.</p><p>The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.</p><p>Growth stocks dominated selling as the <b>S&amp;P 500</b> fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.</p><p>“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.</p><p>The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.</p><h2>Going up</h2><p>Payments platform <b>EML</b> surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.</p><p>The on-going suppressive effect of the pandemic on medical insurance claims helped <b>NIB</b> increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.</p><p><b>Nearmap</b> climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.</p><p>Kiwi telecommunications infrastructure specialist <b>Chorus</b> edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.</p><p>A return to profit as customers flocked back to the big screen lifted cinema owner <b>Event Hospitality &amp; Entertainment</b> 1.48 per cent. The group reported a full-year profit of $55.3 million.</p><p>Servo operator <b>Ampol</b> inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.</p><p><b>Nick Scali</b> firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.</p><h2>Going down</h2><p>A costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer <b>Adbri</b> down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.</p><p>A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged <b>RelianceWorldwide</b> down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.</p><p>Gold miner <b>Ramelius Resources</b> retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.</p><p>Energy infrastructure group <b>APA</b> eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.</p><p><b>Growth stocks</b> wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.</p><p>Fund manager <b>Magellan</b> skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator <b>Aurizon</b>, down 4.05 per cent.</p><h2>Other markets</h2><p>The <b>Asia Dow</b> dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.</p><p><b>US futures</b> hinted at a gloomy start to the week. S&amp;P 500 futures declined 16 points or 0.37 per cent.</p><p><b>Oil</b> declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.</p><p><b>Gold</b> eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.</p><p>The <b>dollar</b> bounced 0.31 per cent to 68.98 US cents.</p></body></html>","source":"lsy1645078131697","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Update: Stocks Pare Fall after China Cuts Lending Rates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Update: Stocks Pare Fall after China Cuts Lending Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/><strong>market herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://themarketherald.com.au/asx-update-stocks-pare-fall-after-china-cuts-lending-rates-2022-08-22/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175981497","content_text":"Aussie shares started the week in retreat amid fears of a broader pullback on equity markets as central banks wage war on inflation at the risk of economic growth.The S&P/ASX 200 fell 45 points or 0.63 per cent by mid-session. The decline mirrored weakness on Wall Street on Friday.Reporting season continued with well-received updates from tech firm EML Payments, health insurer NIB and cinema operator Event Hospitality. Less welcome were reports from builder Adbri and plumbing specialist Reliance Worldwide.What’s driving the marketStocks retreated with investors wary of adding to positions following the market’s longest run of weekly advances since June 2021. The ASX 200 carved out a fifth straight winning week despite losing momentum in the second half of last week.Both the ASX 200 and S&P 500 ran into technical resistance in the form of their 200-day moving averages, an important indicator for longer-term investors.“The ASX200 ended last week rejecting the 200-day moving average, now at 7158. As noted last week, the ASX200 has not closed above the 200-day moving average in 16 weeks, and as suspected, this level brought out the sellers hungry for a piece of the action,” Tony Sycamore, market analyst at City Index, said.“While below the 200-day ma, the risks are for a deeper pullback to the 6990/70 area.” The index was this morning trading around 7060.The market trimmed an initial fall this morning of more than 1 per cent after trading partnerChinacut lending rates to juice up demand. The People’s Bank of China lowered its one-year loan prime rate by five basis points and its five-year rate by 15 basis points. The Shanghai Composite rallied 0.38 per cent against the wider trend on Asian markets.The deterioration in risk appetite towards the end of last week was underscored by strength in the US dollar and bond yields, and declines in equities, cryptocurrencies, meme stocks and other risk-aligned pockets of the market.Growth stocks dominated selling as the S&P 500 fell 1.29 per cent on Friday and the Nasdaq Composite lost 2.01 per cent. The declines came after a succession of Federal Reserve officials pushed back against the idea the bulk of the work has been done to contain inflation.“Recent Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won. On Thursday last week Fed Bullard reiterated his call for another 0.75% hike and on the same day Fed George also suggested more rate hikes are needed although she was more circumspect and didn’t suggest a hike magnitude. Then on Friday, Fed Barkin said the Fed will ‘do what it takes’ to tame price rises,” NAB currency strategist Rodrigo Catril said.The yield on ten-year Australian government bonds rallied above 3.5 per cent this morning for the first time in a month. Increases in the cost of borrowing are a particular headwind for growth stocks, whose valuations depend most on future earnings.Going upPayments platform EML surged 12.03 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2  billion. Up to $20 million shares will be bought back on-market.The on-going suppressive effect of the pandemic on medical insurance claims helped NIB increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 6.19 per cent.Nearmap climbed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.Kiwi telecommunications infrastructure specialist Chorus edged up 2.93 per cent after increasing its dividend guidance for the next two fiscal years.A return to profit as customers flocked back to the big screen lifted cinema owner Event Hospitality & Entertainment 1.48 per cent. The group reported a full-year profit of $55.3 million.Servo operator Ampol inched up 1.08 per cent as half-year net profit more than doubled to $695.9 million from the same period last year.Nick Scali firmed 3.5 per cent despite an 11.1 per cent dip in full-year net profit. Revenues improved 18.2 per cent.Going downA costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer Adbri down 18.42 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged RelianceWorldwide down 8.43 per cent. The plumbing fittings specialist warned the medium-term outlook was “less certain” due to rate rises, weak consumer confidence, inflation and supply chain disruptions.Gold miner Ramelius Resources retreated 5.93 per cent after warning one-off costs will dent its full-year profit. The company expects to take a pre-tax expense of $77.7-$84.7 million for impairments and write-offs.Energy infrastructure group APA eased 1.2 per cent on news CEO and Managing Director Rob Wheals will stand down at the end of September.Growth stocks wilted in the face of higher borrowing costs. Afterpay parent Block sagged 6.28 per cent, Zip Co 4.81 per cent and Altium 3.1 per cent.Fund manager Magellan skidded 10.33 per cent as its shares traded without the right to a 68.9 cent dividend. Also trading ex-dividend was rail haulage operator Aurizon, down 4.05 per cent.Other marketsThe Asia Dow dropped 0.3 per cent. Hong Kong’s Hang Seng trimmed a sharper early loss to 0.05 per cent. Japan’s Nikkei dropped 0.46 per cent.US futures hinted at a gloomy start to the week. S&P 500 futures declined 16 points or 0.37 per cent.Oil declined with other risk assets. Brent crude fell US$1.08 or 1.1 per cent to US$95.64 a barrel.Gold eased US$2.50 or 0.1 per cent to US$1,760.40 an ounce.The dollar bounced 0.31 per cent to 68.98 US cents.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":62,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}