{"id":21717,"date":"2015-08-25T00:00:00","date_gmt":"2015-08-25T00:00:00","guid":{"rendered":"https:\/\/cms.fiveaa.com.au\/uncategorized\/aussie-stocks-on-rollercoaster-ride\/"},"modified":"2015-08-25T00:00:00","modified_gmt":"2015-08-25T00:00:00","slug":"aussie-stocks-on-rollercoaster-ride","status":"publish","type":"post","link":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/","title":{"rendered":"Aussie stocks on rollercoaster ride"},"content":{"rendered":"
Image | Twitter<\/h6>\n

The Australian stock market has had a rollercoaster ride at the start of trade after panic selling on offshore indices overnight.<\/h3>\n

The benchmark S&P\/ASX 200 and the All Ordinaries both dived by 1.5 per cent to below the 5,000 point mark within the opening minutes of trade on Tuesday amid mounting concerns about China’s economy.<\/p>\n

However, within half an hour, a recovery among the heavyweight banking stocks helped the market claw back its losses and to even push it briefly into positive territory.<\/p>\n

Traders had expected the market to extend its four per cent losses from Monday’s session following heavy falls on Wall Street and across Europe overnight.<\/p>\n

The Australian market tumbled four per cent on Monday after a more-than-eight-per-cent dive in the Shanghai Composite, the latest in a series of falls that have wiped trillions off the Chinese market.<\/p>\n

However, despite the local market’s initial steep drop, some key stocks began to recover.<\/p>\n

Bank stocks climbed back into positive territory, while mining giant Rio Tinto pushed one per cent higher and Woolworths climbed by more than two per cent.<\/p>\n

But, elsewhere, BHP Billiton was down about one per cent and Telstra had slumped three per cent.<\/p>\n

Traders said all eyes were on the Chinese market, which is due to open at 1130 AEST.<\/p>\n

Falls in commodity prices overnight, including a slump by the oil price to about $US38 a barrel, kept most energy stocks in the red.<\/p>\n

Crispin Murray, head of equity strategies at BT Investment Management, said that despite recent soft manufacturing data from China and the devaluation of the yuan having heightened investor nervousness, he did not believe the outlook for China’s economy had deteriorated significantly.<\/p>\n

The US economy was also strong enough to withstand a gradual increase in interest rates.<\/p>\n

Mr Murray added that reduced liquidity across global markets during the northern hemisphere summer was also playing a role in the sell-off.<\/p>\n

“The recent correction is reasonable and not out of the ordinary,” he said.<\/p>\n

“The underlying concern is global economic growth, but we do not foresee this materially decelerating.”<\/p>\n

CMC Markets chief market strategist Michael McCarthy said the drivers of the selling were not simple.<\/p>\n

“Some analysts are pointing to a stronger US dollar threatening fragile emerging market economies, others point to weaker China manufacturing data and a 36 per cent fall in the Shanghai composite index,” he said.<\/p>\n

“The continuing falls in copper and oil point to a souring of global industrial sentiment.”<\/p>\n

Meanwhile, Treasurer Joe Hockey has sought to soothe investor nerves, saying “to be calm is good advice”.<\/p>\n

He noted that the Chinese market was still more than 40 per cent higher than a year ago despite its economy having slowed a “little bit”.<\/p>\n

SEE ALSO: DARK HORSE COULD MAKE A PLAY FOR DANGERFIELD, SAYS CARO WILSON<\/a><\/strong><\/p>\n

SEE ALSO: PENBO BREAKS DOWN TONY BURKE’S $2.2M TRAVEL EXPENSES<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Image | Twitter The Australian stock market has had a rollercoaster ride at the start of trade after panic selling on offshore indices overnight. The benchmark S&P\/ASX 200 and the All Ordinaries both dived by 1.5 per cent to below the 5,000 point mark within the opening minutes of trade on Tuesday amid mounting concerns […]<\/p>\n","protected":false},"author":6,"featured_media":21718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[144],"tags":[],"geo_market":[],"class_list":["post-21717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nAussie stocks on rollercoaster ride - FIVEAA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aussie stocks on rollercoaster ride\" \/>\n<meta property=\"og:description\" content=\"Image | Twitter The Australian stock market has had a rollercoaster ride at the start of trade after panic selling on offshore indices overnight. The benchmark S&P\/ASX 200 and the All Ordinaries both dived by 1.5 per cent to below the 5,000 point mark within the opening minutes of trade on Tuesday amid mounting concerns […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/\" \/>\n<meta property=\"og:site_name\" content=\"FIVEAA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/1395FIVEaa\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-25T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tim Ashdown\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@1395FIVEaa\" \/>\n<meta name=\"twitter:site\" content=\"@1395FIVEaa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim Ashdown\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/\"},\"author\":{\"name\":\"Tim Ashdown\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/#\\\/schema\\\/person\\\/c9993afbb4e9c76944cb880fa918b687\"},\"headline\":\"Aussie stocks on rollercoaster ride\",\"datePublished\":\"2015-08-25T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/\"},\"wordCount\":485,\"image\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/unnamed-file.asx.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/\",\"url\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/\",\"name\":\"Aussie stocks on rollercoaster ride - FIVEAA\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/unnamed-file.asx.jpg\",\"datePublished\":\"2015-08-25T00:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/#\\\/schema\\\/person\\\/c9993afbb4e9c76944cb880fa918b687\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/unnamed-file.asx.jpg\",\"contentUrl\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/unnamed-file.asx.jpg\",\"width\":700,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/news\\\/aussie-stocks-on-rollercoaster-ride\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Aussie stocks on rollercoaster ride\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/#website\",\"url\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/\",\"name\":\"FIVEAA\",\"description\":\"Always Adelaide\",\"alternateName\":\"FIVEAA\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/#\\\/schema\\\/person\\\/c9993afbb4e9c76944cb880fa918b687\",\"name\":\"Tim Ashdown\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3d478e03918069695ae92ceb9741ab4b36830cf8102e75dd26c3949e28ad1aba?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3d478e03918069695ae92ceb9741ab4b36830cf8102e75dd26c3949e28ad1aba?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3d478e03918069695ae92ceb9741ab4b36830cf8102e75dd26c3949e28ad1aba?s=96&d=mm&r=g\",\"caption\":\"Tim Ashdown\"},\"url\":\"https:\\\/\\\/cms.fiveaa.com.au\\\/author\\\/tashdown\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Aussie stocks on rollercoaster ride - FIVEAA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/","og_locale":"en_US","og_type":"article","og_title":"Aussie stocks on rollercoaster ride","og_description":"Image | Twitter The Australian stock market has had a rollercoaster ride at the start of trade after panic selling on offshore indices overnight. The benchmark S&P\/ASX 200 and the All Ordinaries both dived by 1.5 per cent to below the 5,000 point mark within the opening minutes of trade on Tuesday amid mounting concerns […]","og_url":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/","og_site_name":"FIVEAA","article_publisher":"https:\/\/www.facebook.com\/1395FIVEaa","article_published_time":"2015-08-25T00:00:00+00:00","og_image":[{"width":700,"height":400,"url":"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg","type":"image\/jpeg"}],"author":"Tim Ashdown","twitter_card":"summary_large_image","twitter_creator":"@1395FIVEaa","twitter_site":"@1395FIVEaa","twitter_misc":{"Written by":"Tim Ashdown","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#article","isPartOf":{"@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/"},"author":{"name":"Tim Ashdown","@id":"https:\/\/cms.fiveaa.com.au\/#\/schema\/person\/c9993afbb4e9c76944cb880fa918b687"},"headline":"Aussie stocks on rollercoaster ride","datePublished":"2015-08-25T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/"},"wordCount":485,"image":{"@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#primaryimage"},"thumbnailUrl":"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg","articleSection":["News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/","url":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/","name":"Aussie stocks on rollercoaster ride - FIVEAA","isPartOf":{"@id":"https:\/\/cms.fiveaa.com.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#primaryimage"},"image":{"@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#primaryimage"},"thumbnailUrl":"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg","datePublished":"2015-08-25T00:00:00+00:00","author":{"@id":"https:\/\/cms.fiveaa.com.au\/#\/schema\/person\/c9993afbb4e9c76944cb880fa918b687"},"breadcrumb":{"@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#primaryimage","url":"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg","contentUrl":"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg","width":700,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/cms.fiveaa.com.au\/news\/aussie-stocks-on-rollercoaster-ride\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cms.fiveaa.com.au\/"},{"@type":"ListItem","position":2,"name":"Aussie stocks on rollercoaster ride"}]},{"@type":"WebSite","@id":"https:\/\/cms.fiveaa.com.au\/#website","url":"https:\/\/cms.fiveaa.com.au\/","name":"FIVEAA","description":"Always Adelaide","alternateName":"FIVEAA","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cms.fiveaa.com.au\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/cms.fiveaa.com.au\/#\/schema\/person\/c9993afbb4e9c76944cb880fa918b687","name":"Tim Ashdown","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/3d478e03918069695ae92ceb9741ab4b36830cf8102e75dd26c3949e28ad1aba?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/3d478e03918069695ae92ceb9741ab4b36830cf8102e75dd26c3949e28ad1aba?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d478e03918069695ae92ceb9741ab4b36830cf8102e75dd26c3949e28ad1aba?s=96&d=mm&r=g","caption":"Tim Ashdown"},"url":"https:\/\/cms.fiveaa.com.au\/author\/tashdown\/"}]}},"jetpack_featured_media_url":"https:\/\/cms.fiveaa.com.au\/wp-content\/uploads\/2020\/03\/unnamed-file.asx.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/posts\/21717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/comments?post=21717"}],"version-history":[{"count":0,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/posts\/21717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/media\/21718"}],"wp:attachment":[{"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/media?parent=21717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/categories?post=21717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/tags?post=21717"},{"taxonomy":"geo_market","embeddable":true,"href":"https:\/\/cms.fiveaa.com.au\/wp-json\/wp\/v2\/geo_market?post=21717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}