Category: Business, Economics and Finance / Company News / Markets / Stockmarket / Currency / Government and Politics
Australian shares tick higher as investors keep analysing Trump policies
Friday, 11 Nov 2016 09:59:11 | Thuy Ong

Investors are worried about the impact of Trump's protectionist policies. (Reuters: Scott Audette)
Australian shares have ticked higher, led by ample gains in banks and miners, though further moves higher were tempered as investors more deeply analysed US President-elect Donald Trump's policies.
The big four banks all rose over 2 per cent each, with NAB leading the gains, soaring 3.2 per cent to $27.54.
Among miners, BHP Billiton added 2.5 per cent, while Rio Tinto climbed 3 per cent.
"With Donald Trump now firmly elected as President, investors' attention has turned to what impact his policies will have on the economy and who will be in his cabinet," said easyMarkets senior market analyst Dominic Cook in a note.
"Market sentiment remains uncertain over the ambiguity of a Trump Presidency but his emphasis on manufacturing and threatening rhetoric towards NAFTA does not bode well for emerging markets."
The ASX 200 rose 0.5 per cent to 5,357 by 12:05pm (AEDT). The share market had jumped 3.3 per cent in the previous session, its biggest one day gain since October 2011.
Electronics and entertainment retailer JB Hi-Fi dumped 1.7 per cent to $25.59, while Harvey Norman lost 1.5 per cent. Telstra tumbled 1.4 per cent as investors look towards a higher inflation global economy.
Investors have sold out of technology stocks as Silicon Valley braces for uncertainty under Donald Trump, who has been a critic of major technology companies and whose policies may hurt the development of the sector.
"Naturally, the issue for president-elect Trump is how he walks the tight rope between what his platform promises are and what he can deliver," said Greg McKenna chief market strategist at AxiTrader.
"The vast majority of analysts, and investors it seems, are worried about the impact of Trump's protectionist policies and isolationism on the region."
Asia-Pacific markets were modestly higher, Japan's Nikkei was up 1.1 per cent.
The Australian dollar was down 0.3 per cent to 75.9 US cents.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.