Agriculture, manufacturers and other exporters could suffer if the Australian dollar continues to push back two-year highs against the US dollar from rising commodity prices.
The Aussie was up 10 percent against the greenback in 2020, peaking on Jan.. December hit a two-year high of 77 ¢ with the US dollar weakening broadly as it posted smaller gains against the pound (up 4). 8 percent), the Japanese yen (3rd. 1 percent), the NZ dollar (2nd. 7 percent) and Chinese yuan (up 1). 3 percent).
The rise against the US is expected to continue. Westpac predicts the Aussie will reach 83 ¢ by the end of 2021, ANZ 80 ¢ and the Commonwealth Bank 78 ¢.
Sarah Hunter, Australian chief economist at BIS Oxford Economics, said production, agriculture? already staggering from Chinese tariffs? and other exporters would be hardest hit by the stronger dollar if overseas buyers switched to cheaper competitors or accepted lower selling prices.
The iron ore miner, whose value more than doubled to $ 72 billion in 2020, was the last 4. 3 percent higher at $ 24. 44 that exceed $ 24. 38 price it set last month.
Iron ore prices rose just over USD 160 per ton in late 2020.
Investors are watching miners closely today after China last week announced its intention to become more self-sufficient with new mining projects in Africa and Western Australia.
In the meantime, the online real estate company REA Group also reached a new record high on the first day of trading in 2021, rising by 2. 9 percent to $ 153. 10.
The company – worth $ 19. $ 6 billion and majority-owned by News Corp – up nearly 50 percent in value in 2020.
The REA surge is due to Corelogic data showing house prices are braving the pandemic and rising in every capital city except Melbourne in 2020.
The job and education portal Seek is also at record highs on Monday. The $ 10 billion company jumped 2. 1 percent to $ 29. 14, after having gained 30 percent in value last year.
Buying a home in every capital in the country except Melbourne got more expensive in 2020, while regional property prices rose three times as fast as the big smoke.
Despite the ongoing pandemic, property prices in Sydney rose 4 percent through December, according to CoreLogic data released Monday morning. Regional NSW property prices rose by 8. 8 percent over the same period. In Melbourne prices collapsed 2 percent, but rose 5 percent. 5 percent in regional Victoria.
Regional property prices rose during the pandemic as people moved from the cities. Photo credit: Morgan Hancock
Real estate values in the capital rose by a total of 2 percent over the course of the year, while prices for country houses rose by 6 percent. 9 percent.
While prices suffered during the peak of the virus, falling about 2 percent between April and September, national prices are now in their third straight month of price growth.
Improved coronavirus case numbers in NSW appear to be boosting investor sentiment, but ASX-listed travel agents remain mixed as restrictions remain in place.
The ASX 200 was 1. 1 percent higher at 6657. 3 at 1 p.m. – despite earlier expectations of a New Year’s break – with the big banks and miners at the helm.
NSW did not have any new cases of community broadcast on Monday. Seven new cases are in hotel quarantine. Two cases of community transmission discovered after 8 p.m. yesterday evening are linked to the Berala cluster and will be included in tomorrow’s numbers.
Victoria has three new local broadcast cases from 32. 468 tests registered, with an additional positive case for a returned traveler in hotel quarantine.
Sydney Airport stocks are down $ 0. 8 percent at $ 6. 36 because various state borders remained closed or were subject to strict restrictions. Auckland International Airport’s ASX-listed shares fell 1 percent to $ 7. 10.
Qantas was however 0. 6 percent higher at $ 4. 88, Air New Zealand rose 0. 3 percent on $ 1. 67 and Regional Express won 2. 4 percent to $ 2. 11.
Flight Center recovered from the ground and rose to 0. 4 percent to $ 15. 92, Webjet was 0. 8 percent lead at $ 5. 11 and Hellowrold Travel added 1. 2 percent on 2 dollars. 55. Corporate travel management fell 2. 7 percent to $ 17. 03.
The billion dollar global infrastructure company Lendlease has secured a 3 in collaboration with Aware Super. 5-acre transit-oriented Los Angeles location for $ 92 million. The two organizations each have a 50 percent interest in the property, which they say could be valued at $ 600 million.
The 500. 000 square meter, medium-sized project will offer world-class architecture in close proximity to the rapidly growing Culver City submarket.
This project marks the first development of Lendlease and the partnership in LA. The ASX-listed company said it was further proof of its ability to identify attractive, market-advantageous development opportunities that are ripe for transformation and value conversion.
The ASX 200 showed little sign of New Year’s hangover on Monday (67). 1 point, or 1 percent, if the session high is 6655. 1 to noon.
The Miners, Banks, CSL, Wesfarmers and Woolworths were all strong, while Afterpay, Goodman and Telstra were also higher. Only the energy sector was in the red.
Gold mining companies rose as the precious metal rose 19 percent to $ 1916. 26 per ounce. Bitcoin was 32. Worth $ 900.
The pandemic has placed immeasurable difficulties on many Americans. Ten million families are now reporting that they do not have enough to eat and millions more are unemployed because of layoffs and bans.
America’s richest, however, had a very different year: billionaires as a class have added about $ 1 trillion to their total wealth since the pandemic began. And about a fifth of that amount went into the pockets of just two men: Jeff Bezos, managing director of Amazon (and owner of the Washington Post), and Elon Musk of Tesla and SpaceX.
Billionaires as a class have added about $ 1 trillion to their total net worth since the pandemic began. And a large chunk of that went into the pockets of Jeff Bezos, managing director of Amazon (and owner of the Washington Post). . Photo credit: Getty
According to Bloomberg estimates, Musk has quintupled his net worth since January by adding $ 132 billion ($ 171 billion) to his net worth, making it the No.. 1 made. 2nd place among the richest in the world with net worth around $ 159 billion ($ 206 billion). Bezos’ net worth grew by roughly $ 70 billion ($ 90). 8 billion) over the same period, which translates into an estimate of net worth of approximately $ 186 billion ($ 241). 2 billion) at the end of the year.
Both men’s fortunes are largely owed to the equity gains of the companies they run, Tesla in Musk’s case and Amazon in Bezos. Tesla’s shares are up around 800 percent this year after a five-for-one stock split in August. The meteoric rise is being driven by a number of factors: its massive Shanghai plant has produced vehicles this year, the company posted steady quarterly profits, and demand for electric vehicles in general is expected to increase in 2021.
Chinese oil companies may be up for delisting in the US next after the New York Stock Exchange announced last week it would remove the Asian nation’s three largest telecommunications companies.
A cyclist arrives at the Shengli oil field of Sinopec in China’s Shandong Province at sunset on Jan.. June 2003 past oil wells. Oil refineries and traders in Asia may have up to 500 in a month. 000 tons of gas oil or diesel shipped to South America and the USA. S.. . , where the increasing demand for fuel is helping to reduce excess supplies from the Asian region. Photographer: Kevin Lee / Bloomberg News Man on Bike / Bicycle Credit: Kevin Lee
According to Henik Fung, an analyst with Bloomberg Intelligence, China’s largest offshore oil producer CNOOC (China National Offshore Oil Corporation) could be most at risk as it is on the Pentagon’s list of companies he says is the owned or controlled by the Chinese military. PetroChina and China Petroleum and Chemical Corporation, also known as Sinopec, could also be threatened as the energy sector is critical to China’s military, he said.
« More Chinese companies could be delisted in the US and oil companies could be the next wave, » said Steven Leung, executive director at UOB Kay Hian in Hong Kong. At the same time, the impact of the telecommunications companies’ removal is likely to be minimal, given that they have barely traded and raised a lot of money in the US, he said.
The NYSE announced that it would ban telecom operators from complying with a US executive order that places restrictions on companies classified as affiliated with the Chinese military. China Mobile, China Telecom and China Unicom Hong Kong would be announced between Jan.. and 11. January excluded from trading and delisting procedures have been initiated, the exchange announced.
The Chinese Ministry of Commerce replied on Saturday that the country would take the necessary measures to protect the rights of Chinese companies, hoping the two countries could work together to create a fair and predictable environment for businesses and investors.
The Chinese Securities Commission said on Sunday that the impact on telecommunications companies was limited given their small number of stocks traded in the US and that they were well positioned to deal with any consequences of the delisting.
« The recent move by some US political forces to continuously and unfoundedly suppress foreign companies listed in US markets, even at the expense of undermining their own position in global capital markets, has shown that US -Rules and institutions this can become arbitrary, reckless and unpredictable, « the CSRC said in a statement on its website.
NSW didn’t register any new locally acquired coronavirus cases in the 24 hours until 8 p.m. last night. However, two other cases related to the Berala cluster were discovered overnight.
We turned 22 last night. 275 tests reported by 8 p.m., compared to a total of 18. 923 the day before.
Fragments of the virus that causes COVID-19 have been discovered in wastewater from sewage treatment plants in Liverpool and Glenfield in southwest Sydney, raising concerns that some people are infected and mistakenly assume that they just have a cold.
It is because BWS and Woolworths customers at Berala Shopping Center are being encouraged to come forward to get tested, even if they have been at the venues for a short time.
Fortescue Metals jumped 2. 7 percent to $ 24. 06 to generate profits for the iron ore giants listed on the ASX, even if China signals its intention to become more self-sufficient in the manufacture of the bulk material.
On Thursday, China’s industry minister said the nation intends to build one or two globally significant iron ore mines overseas by 2025 to improve supplies of steelmaking ingredients and strengthen its pricing power.
China is the world’s largest steel producer and is currently dependent on imports for around 80 percent of its iron ore.
« China will accelerate construction of large iron ore projects in West Africa and Western Australia, » the MIIT said last week.
BHP’s stock listed on the ASX was 0. 3 percent higher at $ 42. 52 and Rio Tinto climbed 0. 5 percent to $ 114. 33. Mineral Resources jumped 2. 3 percent to $ 38. 32.
Iron ore – Australia’s largest export – was back above USD 160 per ton at the end of 2020.
ASX, S&P / ASX 200, The Motley Fool, Börse
Weltnachrichten – AU – ASX starts 2021 with 1. 4% jump; New records for FMG, Seek, REA Group
. . Associated title :
– ASX starts 2021 with 1. 4% jump; New records for FMG, Seek, REA Group
– ASX 200 opens despite COVID 19 higher opened cases increasing in NSW and Victoria
– ASX higher in first session of 2021
– Trading day: ASX extends profits with good Covid news
– Why Corporate Travel Management, Link, Strike Energy, & Sydney Airport drops
– US markets rise to record highs for 2020: ASX opens lower
– ASX Today: mixed leads for the start of the new year
– ASX opens green if Sydney has a $ 200 mask penalty
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