Australasia

Australia shares end week lower, hurt by weak China data; NZ down

08h07 Australian shares skidded on Friday as data in China showed the economy of the Pacific nation's biggest trading partner losing further momentum, underlining the risks to global growth from the Sino-U.S. trade dispute.. . .  Full story

NZ central bank proposes almost doubling bank capital requirements, kiwi dlr falls

06h54 The Reserve Bank of New Zealand (RBNZ) said on Friday it was considering almost doubling the required capital banks would need to hold to bolster the financial system's capacity to handle any shocks, sending. . .  Full story

Australian shares fall, set for first drop in four; NZ down too

02h58 Australian shares weakened on Friday, tracking losses in S&P 500 and Nasdaq indexes on Wall Street overnight, as cautious optimism over U.S.-China trade relations petered out.. . .  Full story

Australia shares set to open lower; NZ little changed

13/12 Australian shares are poised to open lower on Friday, tracking Wall Street overnight, with investors turning jittery as cautious optimism over U.S.-China trade relations petered out. The local share price index. . .  Full story

Australia shares eke out third session of gains; NZ up

13/12 Australian shares closed slightly higher on Thursday, bolstered by gains in miners as market sentiment improved after China took steps to ease trade tensions with the United States.. . .  Full story

Australia's ANZ local group head steps down ahead of shareholders meeting

13/12 Australia and New Zealand Banking Group said on Thursday its local head of retail and commercial banking is stepping down for personal reasons, as the bank ends a difficult year that has shaken up. . .  Full story

Australia shares inch up, focus on Sino-U.S. trade talks; NZ gains

13/12 Australian shares pulled ahead on Monday, though buyers lacked conviction after two sessions of solid gains as investors looked to more developments on Sino-U.S. trade talks amid tentative signs of easing tensions between the two. . .  Full story

Australia shares set to open little changed; NZ up

12/12 Australian shares were poised to open little changed as investors remained cautious, awaiting concrete actions by the United States and China towards easing their trade row. The local share price index. . .  Full story

Shareholder revolt hits Australia's Westpac bank after a year of pain

12/12 Westpac Banking Corp shareholders voted against its executive remuneration plans on Wednesday, dealing a symbolic blow to Australia's second-biggest lender after a year in which the finance sector has been rocked by misconduct allegations.. . .  Full story

Australia shares end firmer as U.S.-China tensions ease, NZ up

12/12 Australian shares rallied on Wednesday, as U.S. President Donald Trump's positive stance on trade relations with China raised optimism of easing discord between the two nations.. . .  Full story

Australia shares rise on hopes for easing U.S.-China dispute; NZ up too

12/12 Australian shares advanced on Wednesday, tracking most global markets on hopes for progress in resolving the trade war between China and the United States.. . .  Full story

Australian consumers more confident on spending-survey

12/12 A measure of Australian consumer confidence inched higher in December with respondents more willing to splash out on big ticket items, a promising omen for the all-important Christmas shopping period.. . .  Full story

Australia shares poised to inch up; NZ advances

11/12 Australian shares are set to open slightly higher on Wednesday, tracking global stocks that pinned hopes on a minor, yet noteworthy progress in the ongoing trade war between China and the United States.. . .  Full story

Australian shares close up, healthcare bounces; NZ up

11/12 Australian shares edged higher on Tuesday as China confirmed it was moving ahead on trade talks with the United States, though the benchmark inded still held close to two-year lows plumbed in the previous. . .  Full story

Australia shares off 2-year low in choppy trade; NZ up

11/12 Australian shares on Tuesday hovered not far from nearly two-year lows struck the previous day due to Sino-U.S. trade war worries, with gains in the healthcare sector offset by losses in energy stocks.. . .  Full story

Australian business conditions ease again in November

11/12 An index of Australian business conditions eased in November, and while the survey still signalled solid employment growth inflationary and wage pressures remained subdued.. . .  Full story

Australia cuts wool output forecast to at least 21-year low as dry weather bites

10/12 Australia on Tuesday trimmed its forecast for wool production by nearly 5 percent as dry weather across the world's largest producer of the fibre squeezes production to at least a 21-year low - the. . .  Full story

Australia shares drop to 2-year low on trade, global growth worry; NZ down

10/12 Australian shares closed near two-year lows on Monday as investors turned risk-averse on concerns over U.S.-China trade tensions and slowing global growth, with the healthcare and financial indexes clocking the biggest losses.. . .  Full story

Australia c.bank rates seen at record lows until mid-2020

10/12 Australia's central bank is seen likely to stand pat on rates at least until mid-2020, a Reuters poll shows, as a recent run of soft economic data quashed any probability of an earlier rate. . .  Full story

Australian home loans jump as RBA sticks to rate hike call

10/12 A cut in Australian interest rates could not be ruled out, a senior central banker said on Monday, but emphasised that the next move was still likely to be an increase given expectations for. . .  Full story

AustralianSuper to cast protest vote against bank pay plans

10/12 Australia's largest pension fund, AustralianSuper, said it will vote against the executive pay of three of the country's biggest banks, in a show of the investment community's souring attitude toward the sector following a year-long. . .  Full story

Australia shares sink to two-year lows; NZ down

10/12 Australian shares fell sharply near two-year lows on Monday, tracking a global sell-off in riskier assets on mounting worries about slowing global growth and Sino-U.S. trade tensions.. . .  Full story

Australia's IOOF Holdings execs step down amid probe

10/12 IOOF Holdings Ltd said on Monday its top two executives would step aside while they fight an unprecedented move by the prudential regulator to have them banned from running Australia's second-largest wealth manager.. . .  Full story

Australia shares poised to open lower; NZ down

09/12 Australian shares were set to open lower on Monday in response to persistent concerns over China-U.S. trade tensions and following falls in U.S. stocks and also in European shares, which posted their worst week. . .  Full story

Australian shares snap three weeks of losses; NZ flat

07/12 Australian shares closed higher on Friday, snapping three weeks of consecutive losses, as investors were heartened by growing views that the country's central bank may consider an interest rate cut at some point next. . .  Full story

Australian shares bounce from 3-day losing streak, NZ slightly down

07/12 Australian shares rose on Friday, reversing a three-day losing streak as markets in the region shrugged off a weaker Wall Street finish and found support from growing views the country's central bank may consider. . .  Full story

Malaysian uncertainties complicate Aussie miner Lynas' growth plans

07/12 Uncertainties surrounding Australian rare earths miner Lynas Corporation Ltd's future in Malaysia have hampered efforts to plan expansion, its chief executive said.. . .  Full story

Australia shares set to fall on Sino-U.S. trade jitters; NZ down

06/12 Australian shares were poised to slip lower on Friday in line with global stocks, after the arrest of a top Chinese technology executive further strained Sino-U.S. trade relations and stoked worries over global trade. . .  Full story

Australia, NZ shares fall amid renewed trade-war concerns

06/12 Australian shares fell to an over two-week low on Thursday after Canadian authorities arrested a senior executive of Chinese tech giant Huawei for extradition to the United States, sparking fears of a fresh clash. . .  Full story

Australian shares extend losses on global growth, trade worries; NZ up

06/12 Australian shares fell for a third straight session on Thursday, beset by worries about slowing global growth and tensions between China and the United States.. . .  Full story

Australian retail sales rise modestly, dims Q4 outlook

06/12 Australian retailers posted another month of weak sales in October with dining out and takeaway food posting rare declines, indicating a dull start for the final quarter of the year.. . .  Full story

Australian shares poised for slight recovery, NZ inches down

05/12 Australian shares were set for a slight recovery on Thursday with stronger iron ore prices likely to support mining stocks, though nervousness after the previous session's Wall Street selloff could return to haunt domestic shares.. . .  Full story

Australia's economy slows, rate hike ever more distant

05/12 Australia's economy slowed more than expected last quarter as consumers reacted to tepid wage growth by shutting their wallets, a disappointing outcome that sent the local dollar sliding as investors pushed out the chance of. . .  Full story

Australia, NZ shares follow Wall Street down, but losses are milder

05/12 Australian shares fell on Wednesday, following a sell-off on Wall Street, as a flattening U.S. Treasury yield curve sparked recession concerns, while doubts about Sino-U.S. trade talks unnerved investors amid signs of slowing global growth.. . .  Full story

Nissan board 'should have known' about Ghosn issues - governance activist

05/12 A leading corporate governance advocate said the board of Japanese carmaker Nissan must accept collective responsibility over alleged disclosure failings that led to the ousting of chairman Carlos Ghosn.. . .  Full story

Aussie shares fall on U.S. slide, global growth worries; NZ also down

05/12 Australian shares sank on Wednesday, pressured by renewed concerns about slowing global growth and trade that triggered heavy selling on Wall Street overnight.. . .  Full story

New Zealand premier Ardern launches NZ$100 mln fund to spur green investment

05/12 New Zealand Prime Minister Jacinda Ardern announced a new NZ$100 million ($69.28 million) green investment fund on Wednesday, aimed at boosting private-sector participation in a campaign to achieve zero net carbon emissions by 2050.. . .  Full story

Australian shares set to start lower, NZ falls

04/12 Australian shares are set to start more than one percentage point lower on Wednesday following Wall Street's tumble on renewed global trade concerns. Shaky base metal and iron ore prices. . .  Full story

COLUMN-Winter is looking a little weird for China's commodities: Russell

04/12 The northern winter usually leads to a demand and price peak for several major commodities in Asia, but this year is bucking the trend for coal, liquefied natural gas (LNG) and iron ore.. . .  Full story

Australian private firm hires Macquarie for sale that could fetch $1.5 bln

04/12 BGC, one of Australia's biggest privately owned companies, said on Tuesday it has hired Macquarie Group to find a buyer for the business, in a possible deal that local media said would be worth. . .  Full story

Australian, NZ shares drop on concerns over U.S.-China truce

04/12 Australian shares closed lower on Tuesday, giving away some of the sharp gains made in the previous session on escalating concerns over whether the United States and China can resolve their deep trade differences. . .  Full story

Australia c.bank holds rates, still optimistic on economy

04/12 Australia's central bank kept rates at record lows on Tuesday and took an optimistic view on domestic activity ahead of data that is likely to show the economy grew more than 3 percent last. . .  Full story

Australia central bank holds rates at 1.5 pct

04/12 Australia's central bank left its cash rate at 1.5 percent on Tuesday, a widely expected decision given policy makers have signalled a steady outlook for some time to come.. . .  Full story

Australia's exports, public spending boost Q3 economic growth

04/12 Australian exports made a welcome contribution to economic growth last quarter, as did government spending, likely extending the country's 27 years of recession-free expansion.. . .  Full story

Australia shares recede from Monday's bullish gains, NZ rises

04/12 Australian equities weakened on Tuesday, giving up some of the previous session's exuberant gains, when global equities hailed a 90-day ceasefire in the US-China trade war that had sapped confidence in risk assets.. . .  Full story

Australian shares set for subdued start, NZ inches up

03/12 Australian shares were poised to start lower on Tuesday, possibly retreating from sharp gains in the previous session when a temporary truce in trade hostilities between China and the United States boosted global risk sentiment.. . .  Full story

Congo begins audit of Glencore unit over radioactivity concerns

03/12 Authorities in Democratic Republic of Congo have started auditing a Glencore unit's supply chain to determine where small amounts of uranium detected in its cobalt come from, the mines ministry said. . .  Full story

Perth Mint's Nov gold sales hit near 2-year high on European demand

03/12 Sales of gold products by Australia's Perth Mint surged nearly 75 percent in November from a month earlier to the highest in almost two years on additional demand from Europe, the mint said on. . .  Full story

Asian shares in Nov post biggest monthly gains in 10 months

03/12 Asian shares posted their biggest monthly gain in 10 months in November on hopes U.S.-China trade tensions would ease and on expectations of fewer U.S. rate hikes in the coming quarters.. . .  Full story

-Little-known asset manager makes $1.8 bln bid for Australia's GrainCorp

03/12 Australia's largest listed bulk grain handler GrainCorp Ltd said on Monday it received an unsolicited A$2.38 billion ($1.8 billion) takeover approach from a little-known asset manager, catapulting its shares nearly a third higher.. . .  Full story

Australian firms pay record salaries but housing a drag

03/12 Australians firms doled out a record amount in salaries last quarter as hiring picked up in a welcome lift for a struggling consumer sector, but steep losses in the once red-hot housing market are. . .  Full story

Australian shares poised to rise in relief after U.S.-China truce, NZ rises

02/12 Australian shares are set to start the week higher on Monday, in the aftermath of a stopgap truce between U.S. and China after months of back-and-forth tariffs that had ignited trade war concerns.. . .  Full story

Iluka resumes operations at Sierra Leone rutile mine as strike ends

02/12 Mineral sands miner Iluka Resources resumed operations at its Sierra Leone project, Sierra Rutile, on Friday, after workers ended a strike that had stalled work for the last eight days, a. . .  Full story

Australia shares down on weak banks, nerves before G20; NZ rises

30/11 Australian shares ended lower on Friday as investors grappled with a cocktail of negative domestic and global factors, including uncertainty over an inquiry into the financial sector and weak Chinese factory activity data.. . .  Full story

Australian kids walk out of school to protest climate inaction

30/11 Thousands of children walked out of school across Australia on Friday in protest against government inaction on climate change, prompting a rebuke from a minister who said they were setting themselves up for "failure".. . .  Full story

Australia c.bank rates seen at record lows until early 2020

30/11 Australia's central bank is seen stretching its record spell of steady rates into 2020, according to a median forecast of economists polled by Reuters, as it awaits a revival in consumer prices and wage. . .  Full story

Australian financial sector faces reckoning as misconduct inquiry ends

30/11 A year-long inquiry that exposed widespread wrongdoing in Australia's financial industry ended on Friday ahead of a final report due by Feb. 1 that could reshape the sector.. . .  Full story

Australia shares drop as financials drag; NZ rises

30/11 Australian shares edged lower on Friday as a weak lead from Wall Street prompted a broader sell-off with financials stocks leading losses.. . .  Full story

Australia shares set for subdued open; NZ rises

29/11 Australian shares are expected to open little changed on Friday ahead of the final hearings in a government-backed inquiry into the financial sector that has exposed wrongdoing at the country's major banks and among. . .  Full story

India's Adani says to fully fund its troubled Australia coal project

29/11 India's Adani Enterprises will fully fund its coal mine and rail project in Australia itself, the company said on Thursday, taking a big step closer to building the long-touted project that has faced fierce resistance. . .  Full story

Australian shares end at 2-wk high after Fed chair's 'dovish' comments, NZ rises

29/11 Australian shares closed at a two-week high on Thursday, tracking a Wall Street rally, after dovish-sounding comments from U.S. Federal Reserve Chair Jerome Powell boosted risk-sensitive assets.. . .  Full story

Australia's misconduct inquiry highlights pressure from proxy advisers

29/11 Shareholder advisory firm ISS advocated against linking staff pay with customer service at Australia's Bendigo and Adelaide Bank arguing such a move would not result in higher shareholder returns, a misconduct inquiry heard on Thursday.. . .  Full story

Australian banks lick their wounds as misconduct inquiry concludes

29/11 An inquiry that has exposed rampant greed and wrongdoing in Australia's major banks and wealth managers wraps up this week ahead of a final report which could trigger sweeping reform of the financial sector. . .  Full story

Australian firms boost future spending plans, Q3 investment dims

29/11 Australian companies sharply upgraded spending plans for the coming year thanks in part to strong earnings and low interest rates, with non-mining investment leading the way in a positive sign for the economy.. . .  Full story

Australian shares track Wall St's Fed-led gains; NZ higher

29/11 Australian shares climbed to a more than two-week high on Thursday, tracking a Wall Street rally after Federal Reserve Chair Jerome Powell signalled monetary policy tightening may be drawing to a close.. . .  Full story

Bingo shares plunge as Australian watchdog raises concerns over Dial A Dump deal

29/11 Shares in Australian waste management and recycling company Bingo Industries Ltd plunged as much as 13 percent on Thursday after the competition regulator raised concerns about its $422 million acquisition of rival Dial A Dump.. . .  Full story

Australia shares set to edge higher, New Zealand up

28/11 Australian shares are expected to rise on Thursday, tracking a rally on Wall Street after Federal Reserve Chairman Jerome Powell hinted at a slower pace of rate hikes, while materials stocks are likely to. . .  Full story

NZ cenbank to ease mortgage curbs but lift bank capital norms

28/11 New Zealand's central bank on Wednesday said it would unwind mortgage restrictions as housing-related risks waned but signalled plans to ramp up banks' capital requirements to address longer-term vulnerabilities.. . .  Full story

Australia central bank subsidiaries charged, fined over bribery

28/11 Two companies linked to the Reserve Bank of Australia (RBA) paid fines and penalties totalling A$22.6 million ($16.3 million) in 2011 and 2012 after pleading guilty to charges of conspiracy to bribe foreign officials, the. . .  Full story

Material stocks weigh on Australian shares; NZ inches up

28/11 Australian shares traded slightly lower on Wednesday as losses in the materials sector from concerns about a slowdown in Chinese demand offset gains across domestically insulated stocks.. . .  Full story

Australia's AMP seeks to clarify confusion over compensation costs as shares fall

28/11 Australia's AMP Ltd said on Wednesday compensation for customers who had received bad advice or been wrongly charged would total A$778 million ($562.3 million), as jitters about the size of the bill drove its. . .  Full story

Australia storms turn Sydney streets into rivers, causing commuter chaos

27/11 Torrential rain triggered flash flooding that turned streets into rivers in Sydney, Australia's biggest city, on Wednesday, causing major disruptions to the morning commute.. . .  Full story

Australia shares set to open slightly higher; New Zealand steady

27/11 Australian shares are expected to open slightly up on Wednesday, on hopes of trade war tensions easing, after White House economic adviser Larry Kudlow said the United States was open to a trade deal. . .  Full story

NZ cenbank to unwind mortgage lending restrictions

27/11 The Reserve Bank of New Zealand (RBNZ) said on Wednesday that it would further unwind mortgage lending restrictions at the start of next year as the risk posed to the financial system from a. . .  Full story

China December coal imports set to slump on new curbs -traders

27/11 China's coal imports are set to slump in December as traders and utilities wind back purchases following signals from Beijing that it will stop clearing shipments until next year, trading companies and utilities told Reuters.. . .  Full story

Australia's AMP to spend over $852 million in remediation, CEO tells inquiry

27/11 Australia's largest-listed wealth manager, AMP Ltd, told an inquiry on Tuesday it expected to spend A$1.18 billion ($852.6 million) to compensate customers who had received bad advice or been charged for no service.. . .  Full story

Banks, commodities lead Australian shares higher; NZ also rises

27/11 Australian shares ended higher on Tuesday, with financial stocks leading gains on the benchmark after the banking regulator gave lenders more time to implement new capital rules on loans.. . .  Full story

Australian shares set to recover; New Zealand rises

26/11 Australian shares are set to stage a recovery on Tuesday, following resurgent oil prices and U.S. stocks, although gains are expected to be capped by a wider aversion to equities.. . .  Full story

NAB chairman: will take decade to fix culture in Australia's financial sector

26/11 The chairman of National Australia Bank Ltd said at an inquiry into sector misconduct that it would take a decade to fix the profiteering culture that has shredded the reputation of the lender and. . .  Full story

Oil, metal woes hurt Australian shares; NZ also down

26/11 Australian shares were dragged lower on Monday by heavy losses for the mining and energy sectors, as a plunge in oil prices last week inflamed broader fears about slowing global growth and corporate earnings.. . .  Full story

PNG upholds deal with Huawei to lay internet cable, derides counter-offer

26/11 Papua New Guinea (PNG) will uphold its agreement with China's Huawei Technologies Co Ltd to build its internet infrastructure, a PNG government minister said on Monday, dismissing offers from Western countries to take on the. . .  Full story

Australian shares down on weaker commodity prices, NZ lower

26/11 Australian shares started the week lower as weaker commodity prices weighed on heavyweight resource stocks, while most other sectors edged lower amid a wider aversion to equity markets.. . .  Full story

Australia's Dexus to establish $1.45 bln logistics trust with Singapore's GIC

26/11 Real estate developer Dexus said it had agreed to set up a A$2 billion ($1.45 billion) trust with Singapore's sovereign wealth fund GIC to invest in Australian logistics properties.. . .  Full story

Australian stocks set for weak open, New Zealand rises

25/11 Australian shares are set to start the week on a low note as investor appetite for equities remains fragile, with a crash in oil prices last week providing fresh sell-side pressure.. . .  Full story

Australia shares set to open lower; NZ up

22/11 Australian shares are set to open lower on Friday as investors remain guarded against the risk of slackening global growth and persisting trade tensions. The local share price index. . .  Full story

Australian corporate regulator lashes out at increasing mandate, funding cuts

22/11 Australia's corporate regulator told an inquiry on Thursday that funding cuts and an increasing mandate had hampered its ability to prevent wrongdoing in the financial sector, and slammed bank bosses for failing to properly respond. . .  Full story

Australia, NZ shares end higher; global growth worries persist

22/11 Australian shares closed higher on Thursday as oil prices recovered overnight and the U.S. S&P 500 bounced from the previous session's steep sell-off, although global growth worries lurked in the background.. . .  Full story

Australia, NZ shares bounce from recent sell-offs; mood still cautious

22/11 Australian shares advanced on Thursday as investors tentatively stepped back into the market thanks to overnight strength on Wall Street, with metals and energy sectors recovering some of their recent losses.. . .  Full story

Aussie shares poised to rebound; New Zealand stocks up 1 pct

21/11 Australian shares are expected to recover on Thursday following a rise in U.S. equities after positive corporate earnings and a rebound in oil prices reassured investors. The local share price. . .  Full story

Australia shares end lower amid global equity sell-off; NZ also falls

21/11 Australian shares closed at their lowest level since February 2017 on Wednesday as worries of slowing global growth and a plunge in oil prices triggered a global equity sell-off.. . .  Full story

Australia's CBA chair defends claim she raised governance concerns

21/11 Commonwealth Bank of Australia's chairwoman on Wednesday defended her testimony to a financial sector inquiry that she had raised governance concerns with senior management, even though lawyers said there were no records of her doing. . .  Full story

Australia's Coles rises up to 7 pct on trading debut as broader market wilts

21/11 Australia's second-biggest grocery chain, Coles Group Ltd, traded as a standalone listed company for the first time in over a decade on Wednesday, with its shares rising as much as 7 percent by the. . .  Full story

Australian shares join global market tumble; NZ falls too

21/11 Australian shares plunged to a 15-month low on Wednesday with across-the-board losses, joining a rout in global equities as trade tensions and worry about global growth continued to shrink risk appetites.. . .  Full story

Australian shares to open down; NZ down

20/11 Australian shares are set to fall on Wednesday for a fourth straight session, led by heavy sell-offs in energy stocks as oil prices plunge on widespread fears of global economic slowdown.. . .  Full story

Australia's central bank gov raps banks for misdeeds; watching housing downturn

20/11 Australia's top central banker on Tuesday rapped the country's scandal ridden banks for their errant behaviour, saying strong penalties were required to punish misdeeds, but cautioned over regulation risks crimping much-needed credit to the economy.. . .  Full story

Australia's Commonwealth Bank CEO says was told to 'temper sense of justice'

20/11 Commonwealth Bank of Australia's chief executive told a banking misconduct inquiry on Tuesday that his predecessor had told him to curb his "sense of justice" when he suggested halting sales of potentially harmful insurance products.. . .  Full story

Australia shares close lower on Wall St's tech sell-off, NZ also down

20/11 Australian shares fell on Tuesday, after a sell-off in tech stocks dragged Wall Street, though managed to pare majority of the losses as financials and miners notched surprise gains late in the day.. . .  Full story

Aussie shares fall, tracking Wall Street; NZ down

20/11 Australian shares fell for a third straight session on Tuesday, tracking losses on Wall Street and weighed down by fears that renewed U.S.-China talks will not make much progress in resolving their bitter trade. . .  Full story