To The Moon

In Nov., $S&P/ASX 200(XJO.AU)$ was up 6.13%.

Top Sectors' Performance in November

Commodities and materials recovered much: 

• oil and gas sector was up 40+%, mainly because the crude oil rebounded;
• steel and silver were up 20+%
• metals and gold were up 10+%, because the gold rallied together with the stock market after US reported a better-than-expected CPI.

Top Stock Performers in November

$Sandfire Resources NL(SFR.AU)$ , $Champion Iron Ltd(CIA.AU)$ ,$Evolution Mining(EVN.AU)$ , $ORIGIN ENERGY LIMITED(ORG.AU)$ , $AngloGold Ashanti DRC(AGG.AU)$ ,$Chalice Gold Mines(CHN.AU)$ , $FORTESCUE METALS GROUP LTD(FMG.AU)$ , $Nickel Industries Ltd(NIC.AU)$ , $Virgin Money(VUK.AU)$ , $Fisher & Paykel Healthcare Corp(FPH.AU)$ all went up more than 20%.

Some of these companies also championed the weekly winners. They either reported good news about takeover or the new cooperation deals, which boosted invetors confidence.

Key Events for ASX in November

1. Australian dollar rally - on November 10, since the release of the lower-than-expected US CPI data CPI (7.7%), sentiment in the market has improved significantly.

The Australian dollar and the stock market have been rising, with the Australian dollar rising from a low of 0.61 to 0.68.

2. China's policy impacts - higher commodity prices

Commodities moved higher following China's pandemic prevention and real estate policy.

3. Wage growth hits 10-year high - On November 18, the Australian Bureau of Statistics (ABS) announced that the level of wage growth across Australia hit a 10-year high in the third quarter of 2022, also becoming the highest level since early 2012.

Wage growth could leave the Australian Federal Reserve facing a dilemma-wage-inflation spiral.

4. FTX bankruptcy - on November 22, Scott Langdon, a Korda Mentha executive, confirmed in a written report that 29,234 independent Australian clients have been identified as having lost significant property and that "recoverability and current values have yet to be determined."

5. RBA Apology - On November 28, RBA chairman Philip Lowe said sorry to Australians.

The RBA's original guidance was that interest rates were unlikely to rise until 2024, but instead it continued to raise rates since May this year. The original guidance led to hundreds of thousands of people buying large mortgages.

6. Australian CPI growth retreated - On November 30, according to data released by the Australian Bureau of Statistics (ABS), Australia's CPI rose 6.9% year-on-year in October, down from 7.3% year-on-year growth in September, but still at a high level.

Australian stocks rose after CPI data growth retreated.

7. House prices fall - ANZ expects house prices in Australia's seven capital cities to fall by 7% in 2022 and then by a further 11% in 2023.

ANZ forecasts that median house prices in Australia will return to levels seen in late 2020 and early 2021.