1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The Australian share market is set to rise this morning with ASX futures up 0.3% with investors expected to react to China’s bold stimulus plans.
China is expected to adopt an "appropriately loose" monetary policy next year according to top Communist party officials ahead of the annual Central Economic Work Conference. It would be the first easing of its stance in 14 years.
The Aussie and Kiwi dollars rallied on news of China's plans for monetary policy in 2025.
European shares closed at their highest levels in six-weeks led by resources stocks with investors buoyed by the promise of renewed China stimulus. US traded shares of Chinese companies also rallied, while US listed shares of BHP and Rio Tinto rose, reflecting rising copper and iron ore prices.
Wall Street investors also considered incoming US inflation data. Tech stocks drove the main indices lower with 8 out of 11 S&P 500 sectors losing ground.
Nvidia fell after China's market regulator launched an investigation into the chipmaker over suspected violation of its antimonopoly law.
Advanced Micro Devices fell heavily after BofA analysts downgraded the stock, which weighed on the Philadelphia Semiconductor Index
Hershey surged on reports that Cadbury parent Mondelez is exploring an acquisition of the chocolate maker.
Locally, all eyes will be on the Reserve Bank’s interest rate decision with no change expected for the cash rate.
Beach Energy and Serko will host investor briefings, with Myer holding its AGM. Premier Investments is trading ex-dividend.
