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ASX 200 live: Market recoverog amid US debt woes after Moody's credit rating downgrade
ASX seesawing amid global economic concerns. CBA shares continue to find support. Factory output in China grew at a faster rate than expected last month. Government to hand down a decision on the North West Shelf gas project by the end of the month.
Welcome to the Trading Day blog for Monday, May 19. The ASX 200 is down 0.1 per cent at 8,336.7 points at 1220pm AEST, with CBA finding good support. US debt concerns after Moody’s cuts its credit rating. Energy and mining stocks hit. On the flip side, investors like technology, utilities and health care.
Factory output in China grew at a faster rate than expected last month, official data showed Monday, weathering a brutal trade war with Washington.
China also slaps anti-dumping duties on plastic imports from the US, European Union and Japan.
On Wall Street on Friday, the Dow Jones Industrial Average jumped 0.8 per cent, while the S&P 500 index rose 0.7 per cent. The technology-focused Nasdaq rose 0.4 per cent.
Cryptocurrency giant bitcoin is just above $US103,700.
The Aussie dollar is near US64.01c.
Originally published as ASX 200 live: Market recoverog amid US debt woes after Moody's credit rating downgrade
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