Thursday, 10 March 2011

Another day of red for ASX - Libya and China news

Well today was another bearish day on the ASX, down 1.5percent on more news of unrest in Libya causing high oil prices. Also, China recorded a trade deficit of $7.3 billion in February. This makes it the worst reading for the world’s second largest economy in seven years.

This was partly blamed by some on the fact that China had seven straight days off for the Chinese New Year celebrations at the start of the month of February. However, it is interesting to ask, if this was the case, why did we not see imports also falling over the month?

Tomorrow will be the busiest day of the economic calendar for March out of China with retail sales, the consumer price index (inflation), a press conference by the China’s bureau of statistics and the producer price index (the change in the price of goods purchased and sold by producers) also scheduled for release.

Typically, China releases most of its economic data over two days around the middle of each month.

As for my actions, bought more AUT today at $2.80 and sold my MACQ that I was getting sick of

End of Day: $644 or 4.2% from initial portfolio



  1. lool im not very in the topic of banking and this.. but i like this blog...

  2. I feel as though I could actually learn something from this blog...

  3. How much do you trust economic data from the Chinese government?

  4. @Random Fan: Why wouldn't they? :o

  5. Great market analysis. Hit me back man, I'd love to chat about investing with ya. Check me out,

  6. like the comment from "Random Fan" :D

  7. I've read through your posts, and I love this! It's smart, it's informational, and it sounds like you're doing a good job at investing on a very conservative approach. 6.5% yield isn't too shabby, and I like how you're staying away from the riskier choices.

    Now, you started blogging in March. How did you do in Nov-Dec of last year? A lot of people I knew lost a pretty penny during the Christmas season...