Skip to main content

Australia’sworst stock market week ever and Greece problems

Greece problems + Australian super tax  + Down Jones rocks the boat

Australia released the Henry tax review reform last week which pretty much the whole business community was waiting for with bated breath last week. The implementation of the super tax on miners  from the Henry tax review brought down the  mining shares with a vengeance in the Australian  markets , and the falling Dow Jones didn't help either.  To put more  momentum to this bad news the Greece  stock market  epidemic which was the flow on from the US  GFC   some years ago  and spooked by the US markets  crisis is still spooking other countries like UK , Portugal , Spain and other euro zone countries which are in very bad debt shape and continuing to grow worse.

US markets and Nikkie Japan Stock markets

It is ironic  that the us markets that started this all has actually been performing an rising pretty well in the last couple of months. One market that has also been gradually rising and performing well after the  GFC  is the Nikkei ( Japan stock market) and  we can certainly take some relief from that , it being one of the major economic players in the global markets.

This is how the Australian stock market looked this week

Australia stockmarket hororo wek Greece Supe tax  henry review

The Super Mining tax ( which is considered a a double mining tax by the big miners in Australia) was the  report that started the  freefall in the  Aus biz markets this week. Check out  the Henry Review tax reform  2010 documents and details here on this blog for details on this mining super tax.

Popular posts from this blog

Best Australian stock forums online ( finance forums)

Many traders and investors use forums to share ideas, learn from the more experienced, or simply to stave off boredom during long hours at the computer. Here we list the known universe of forums, complete with costs, member numbers, extra benefits and popular forum topics. Please post a message on Your 2 Cents if your favourite forum isn't listed here, or if you feel that there's more to add about the day-to-day goings on in your online community.Forum
Stock comps
Forum areas
AussieStockForums.comFreeASX by share code, General, Beginners, Derivatives, Commodities, International, Strategies/SystemsEasy to use, independent forum. Aussie Stock Forums has a group of very active and knowledgeable traders. Private messaging available. Australian forum.
Chimes in ExileFreeASX stocks, fundamental analysis, technical analysis, commodities, economics, investment tools The forum has a small group of regular contributors that form a genuine community of investor…

The diggers and dealers forum meet 2011

The diggers and dealers forum has just begun August 1. Its a three day annual event happening every year  at the WA country town of kalgoorlie.2011 Diggers & Dealers forumBig name brokers  keenly watching the event will be MacquarieDeutsche BankBell PotterGoldman SachsRBS MorgansEvans & PartnersHartleysBlack Swan Euroz.Well most other websites will give you the  finer details of the annual meet and greet that happens at kalgoorlie , so we will just stick with the bare minimum of details  and focus on the more enjoyable bits  of information that the dealers require to strike a good deal while in town.Bare detailsWebsite : Diggers & DealersEvents : Program and scheduleWatering holes and entertainment at Diggers and dealers forumPubs , clubs  and skimpy (barmaids) culture in kalgoorlie . There are about 25 pubs in Kalgoorlie-Boulder area and for a city that stretches just 67sq km the number of pubs makes for  a good choice on drinking holesand entertainmentExchange Hotel ( Pa…

Stock market and High frequency trading

High frequency and computerised trading androgue trading is again  in the news with  trader Mr Adoboli working for UBS  who was arrested at his desk, is alleged to have lost £1.3 billion through his rogue trades  according to the company , now also annoucing that they might go into a loss in this quarter. According to some reports in the media it was said that Mr Adoboli Himself had reported the  trade when the trade went bad before the computers picked up the loss.
Not so long ago in 2008 Jérôme Kerviel, the Paris-based Société Générale trader lost £4 billion in rogue trades, but fought it out in court contesting that the trading firm knew about his trades with large amounts.

High frequency computerised trading in Australia HFT drives the wild swings in global markets and in co-relation influences the local assets, the intensity is expected to rise with online exchange Chi-X to  begin operating in Australia soon with a limited number of stocks in November. The ASX will launch its Pur…