Australian shares ended lower on Thursday after a weaker-than-expected ABS retail sales data and Myer's disappointing result for first half FY2010. The benchmark S&P/ASX200 index closed 26.3 points, or 0.57 per cent lower, at 4621.6, while the broader All Ordinaries index gave up 29.1 points, or 0.62 per cent, to 4644.1.
Wall Street delivered a bad lead to Asian market today. US stocks plunged overnight as financials tumbled after President Barack Obama proposed stricter limits on financial institutions' risk-taking. Obama's plan will prevent financial institutions that own banks from investing in, owning or sponsoring a hedge fund or private equity fund.
US stocks fell on Friday led by financial sector as JPMorgan Chase reported heavy fourth-quarter losses on mortgage and credit card loans. Shares in Intel also declined despite it reported a biggest gross profit margin in its history, as investors grew fearful that the stock may be near its peak. For the week, Dow index fell 8.54 points, or 0.08%.
Australian stocks ended flat on Wednesday as shares gave up early gains in the afternoon dragged by banks. Miners advanced as investors were optimistic about the iron ore prices. At the close, the benchmark S&P/ASX200 index was up 1.6 points at 4925.9 points, while the broader All Ordinaries index lifted 7.7 points, or 0.15 per cent, to 4947.2 points.
The Australian shares Wednesday were broadly higher in the last full trading day before Christmas holiday. The market rose in a light trade after the US market gained on the upbeat home sales data. At the close, the benchmark S&P/ASX200 index rose 35.1 points, or 0.7 per cent, at 4739.3, while the broader All Ordinaries advanced 31.7 points, or 0.7 per cent, to 4756.1.
Wall Street stocks tumbled overnight on a second downgrade of Greece's sovereign debt in a month and Citigroup's capital raising. The US dollar rebounded as investors cut riskier assets. The US dollar index, which measures its performance against a basket of major currencies, rose to its highest level in more than three months.
The Australian sharemarket gave up early gains on Wednesday after the GDP figures released by Australian Bureau of Statistics showed a disappointing result in economy growth. At the close, the benchmark S&P/ASX200 index was 11.6 points lower, or 0.2 per cent, at 4661.9, while the broader All Ordinaries slashed 11.7 points, or 0.2 per cent, at 4676.1
