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Valerina Changarathil reports on a wide range of news and issues relating to businesses in South Australia across start-ups, technology developers, biotechs, mining and energy companies, agriculture and food, and tourism.

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Valerina Changarathil

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Markets

CBA hits record high; RBA set to cut rates

The sharemarket has closed higher for a seventh day in a row following April’s 89,000 jobs bounce and expectations the Reserve Bank will cut interest rates on Tuesday. CBA continues to power ahead, hitting a record of $169.74. GrainCorp soars on profit upgrade.

Companies

19/05/2010 WIRE: A concerned investor looks at a sea of red (indicating falling share prices) on a display at the Australian Stock Exchange (ASX) in Sydney 19/05/2010.

RBA rate cut on track despite wages surprise; Insignia top loser

Annual wages rose more than expected due to public sector spending. CC Capital still keen on Insignia after Bain withdraws. ASIC lands another blow on Macquarie. Aristocrat sinks on earnings miss.

Markets

A Chinese investor reacts as he looks at prices of shares (red for price rising and green for price falling) at a stock brokerage house in Jiujiang city, east Chinas Jiangxi province, 17 September 2012.The last time Chinas stocks were this cheap in 2008, the benchmark index rose 83 percent in a year. Now is different as policymakers struggle to reverse the worst economic slowdown in more than a decade, the most-accurate strategists say. While the Shanghai Composite Index trades at 11.4 times the earnings of Chinas biggest companies, the lowest level since at least 1997, economists predict the worlds second-largest economy will grow at its slowest annual pace in 13 years. Investors anticipate the government will lack focus on the slowdown as the Communist Party prepares for a once-in-a-decade leadership transition. Haitong Securities Co. strategist Chen Ruiming, who correctly predicted on August 1 the index would fall below the 2,000 level, says the measure is poised to drop a further 14 percent to 1,800 this year. Chinas stocks will end down for a third year, according to Bank of Communications Co.s Hao Hong. Falling interest rates and increasing copper prices, which foreshadowed the rally in 2009, are not predictive this time around, said David Cui, chief China strategist at Bank of America Corp. He sees more losses for the index after saying in February 22 that it would slump to 2,100 by year-end.

Market trims ‘reset’ gains after China-US trade ceasefire

Rollback of tariffs sees local investors pile back into previously under-pressure stocks like Breville and Zip. Likely pullback in rate cuts looms as defensive stocks like Coles and Woolworths decline.

Companies

(FILES) (COMBO) This combination of pictures created on November 07, 2024 shows former US President and Republican presidential candidate Donald Trump (L) in Pittsburgh, Pennsylvania on November 4, 2024, and Chinese President Xi Jinping (R) at a press conference in Belgrade, on May 8, 2024. Chinese President Xi Jinping held phone talks on January 17, 2025, with US president-elect Donald Trump, Chinese state media reported. CCTV said the phone call happened

ASX at two-month high before US-China talks; tech sector strongest

Super fund Hesta has put WiseTech on its watchlist over concerns related to chair Richard White. Macquarie’s annual profit has investors on a tear. US has de-escalatory carrot ready for weekend’s China trade talks.

Markets

SYDNEY, AUSTRALIA - FEBRUARY 26: Pedestrians walk past a Commonwealth Bank of Australia (CBA) branch on February 26, 2024 in Sydney, Australia. Commonwealth Bank's latest financial results reveal a robust performance, with the bank reporting a record profit of $9.6 billion for the 2022-23 fiscal year, underscoring its position as Australia's largest and most profitable lender. The strong earnings were driven by solid loan growth, improved margins, and a focus on cost control, positioning the bank for continued success in a challenging economic environment. (Photo by Lisa Maree Williams/Getty Images)

CBA cuts Aus economic growth forecast; Woodside under pressure

Banking giant trims Australia’s GDP growth forecast. Nearly 20 per cent of Woodside investors reject election of climate director. BlueScope warns of an inflation jump from President Trump’s tariffs as he spruiks deal with the UK. Aussie dollar in demand.

Companies

(FILES) (COMBO) This combination image of two pictures created on April 4, 2025 shows US President Donald Trump (L) in Miami, Florida, on April 3, 2025, and China's President Xi Jinping (R) in Beijing on March 5, 2025. With his storm of tariffs on Chinese goods, US President Donald Trump on April 2025 has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say. (Photo by Mandel NGAN and Pedro Pardo / AFP) / To go with AFP story China-US-diplomacy-politics-trade-economy,ANALYSIS by Matthew Walsh

China’s stimulus packages suggests economic growth concerns: ANZ

China has cut interest rates and announced other economic boosters before its first trade talks with the US since US President Donald Trump’s sweeping tariffs in April. Local shares close slightly higher, bitcoin gains and the AUD is near US65c.

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