Live news: Australian shares rise in first trading session of new year

What to look at in Asia as we speak

PMI: December buying supervisor indices by IHS Markit are set to be launched for Japan, Thailand, Australia, Vietnam and China. The Singapore Institute of Buying and Supplies Administration will even launch its December report.

Markets: Australian and Japanese equities rose on Tuesday morning of their first buying and selling session of the brand new yr. They adopted incremental beneficial properties within the US on Monday, with the S&P 500 advancing 0.6 per cent to shut at a report excessive.

Australian shares rise in first buying and selling session of recent yr

Australian equities rose and futures in Asia diverged on Tuesday after shares within the US started the yr with minor beneficial properties.

The S&P/ASX 200 rose as a lot as 0.9 per cent within the morning of its first day of buying and selling in 2022, whereas futures rose in Hong Kong however declined in Japan.

Within the US on Monday, the S&P 500 superior 0.6 per cent to shut at a report excessive. The US benchmark was lifted by a surge in Tesla shares, after the carmaker reported blowout manufacturing numbers.

A rally in shares of Apple, which pushed the iPhone maker’s market capitalisation to $3tn, additionally boosted the index.

US Treasury costs additionally fell sharply on Monday in a bearish begin to 2022 that follows the worst yr for the worldwide bond market in additional than 20 years.

The benchmark 10-year Treasury yield rose by almost 0.13 proportion factors, exceeding 1.6 per cent for the primary time because the emergence in late November of the Omicron pressure of coronavirus, which despatched yields tumbling.

That marked one of many greatest Treasury sell-offs over the previous yr.

NY attorney-general expands inquiry into Trump’s enterprise practices

 Ivanka Trump and Donald Trump Jr listen to a rally in 2020
New York attorney-general Letitia James issued subpoenas to Ivanka Trump, left, and Donald Trump Jr © Evan Vucci/AP

The New York attorney-general has expanded her investigation into Donald Trump’s enterprise empire, issuing subpoenas to the ex-president’s two eldest kids.

Letitia James issued the subpoenas to Trump, Ivanka Trump and Donald Trump Jr final month, in line with paperwork filed with the New York Supreme Courtroom on Monday. Her workplace stated investigators are “searching for interviews underneath oath” of all three members of the family.

The courtroom filings stated the subpoenas had been issued “in reference to an investigation into the valuation of properties owned or managed by Donald J Trump or the Trump Group”.

James’s investigation is believed to give attention to whether or not the previous president inflated the worth of his properties for some functions — say, securing a financial institution mortgage or insurance coverage — whereas minimising them when it got here to paying taxes.

The brand new filings, dated December 30, indicated that legal professionals for the previous president and his grownup kids are searching for to dam James’s employees from interviewing them as a part of the inquiry.

“Regardless of quite a few makes an attempt to delay our investigation by the Trump Group, we’re assured that our questions can be answered and the reality can be uncovered as a result of nobody is above the regulation,” the attorney-general’s workplace stated.

Learn extra concerning the investigation.

Apple turns into first $3tn firm after enhance from pandemic demand

Apple has change into the primary firm to hit a market capitalisation of $3tn, after its worth rose by $1tn in lower than 16 months because the coronavirus pandemic turbocharged Huge Tech.

The iPhone maker grew to become a $1tn firm in August 2018 and two years later grew to become the primary firm to be valued at $2tn. On Monday, shares within the firm rose by 3 per cent to $182.86, taking it previous the most recent milestone, earlier than easing again to shut at $182.01.

Apple briefly misplaced its title because the world’s most dear firm to Microsoft on the finish of October. Nonetheless, a powerful rally in November restored its crown. It then surged larger into the top of 2021, and has added half a trillion {dollars} to its market worth since November 15.

Solely a handful of corporations are price greater than $1tn, together with Tesla and Amazon. Google mother or father Alphabet and oil group Saudi Aramco are valued at about $2tn, whereas Microsoft’s market worth is roughly $2.5tn.

Apple’s inventory climbed greater than 30 per cent in 2021 because it deftly navigated the availability chain disaster and benefited from additional demand in the course of the pandemic for iPhones, Macs and iPads as prospects upgraded their dwelling workplaces.

Learn extra about Apple.


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