• ASX closed 0.8pc higher on Wednesday
  • A swag of reports were released today including building approvals
  • Fed is in focus, with rates decision due at 5am AEDT tomorrow


The Australian stock market opened the month of November with a 0.8% rise on Wednesday. The ASX tracked major European, UK and US equities markets, which mostly closed higher overnight.

Stocks rose against a backdrop of more reports of humanitarian horror in the Israel-Hamas conflict, as well as the looming US Fed’s rates decision, which will be handed down at 5am AEDT tomorrow.

There was a swag of domestic reports released today, including September dwelling approvals, which fell 4.6% in September after rising for the first time since May in the previous month.

The ABS also released a September living costs indices report, which shows that living costs for employee households rose 2% in the September 2023 quarter, higher than the 1.5% rise in the June quarter.

In other data, Australia’s manufacturing sector further contracted at the start of Q4, according to Judo Bank PMI report.

On the ASX, the only sector in the red today was Utilities, while the best performers were Real Estate, Mining and Healthcare.

AGMs were held today for BHP, Domino’s Pizza, Megaport, Sims and Vicinity.

Elsewhere in the region, Asian stocks mainly gained.

The Japanese Yen strengthened from near its weakest level this year after its forex chief said he was ready for intervention.

Meanwhile, China’s manufacturing activity unexpectedly shrank in October, signalling a loss in the country’s economic momentum.



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Packaging solutions company Amcor (ASX:AMC) rose 2% after delivering results in line with expectations for Q1. The company reported net sales of $3,443 million for the quarter. GAAP Net income was $152 million, while GAAP diluted earnings per share (EPS) was 10.5 cps.



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Janus Henderson (ASX:JHG) fell -2% ahead of its earnings report.