ASX turns down after early rise; Morgan Stanley downgrades Aussie equities; Nine hires new CEO
Australian stocks turn down after an early rise. Morgan Stanley cuts ratings on Australian stocks. Nine appoints Matthew Stanton as CEO. ACCC finds issues with DP World's acquisition of Silk. Boss buys stake in uranium player.
Welcome to the Trading Day blog for Thursday, March 13. The ASX 200 is down 0.4 per cent at 7754.5 points at 2.56pm after initially rising 0.4 per cent rise after lower than expected US CPI data
On Wall Street, the S&P 500 closed 0.5 per cent higher, the technology-focused Nasdaq Composite Index added 1.2 per cent and the Dow Jones Industrial Average shed 0.2 per cent lower.
Cryptocurrency market leader bitcoin is trading above $US83,000.
The Aussie dollar is trading around US63.22c.
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ASX 200 trims falls as Trump, Asian markets await China response
The ASX 200 trimmed a big intraday fall as US stock index futures and US Treasuries reversed early losses. Asian stocks are mixed with the Nikkei 225 down 3 per cent and the Hang Seng index turning up 1.3 per cent. Xi Jinping will visit Vietnam, Malaysia and Cambodia next week for a response to Trump's 145 per cent tariff war.
ASX recovers $116bn in best day since June 2020
Technology and mining stocks lead surge on local bourse. US futures point down after Wall Street's historic session as Chinese leaders meet to respond to Trump's 125 per cent hit.
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