Real-time news: Australian stocks rose on the first trading day of the new year

The Australian stock market rose on the first trading day of the new year

After the US stock market rose slightly at the beginning of the year, the Australian stock market rose on Tuesday, and Asian futures diverged.

The S&P/ASX 200 index rose 0.9% on the morning of the first trading day of 2022, while Hong Kong futures rose but Japan fell.

In the United States on Monday, the S&P 500 index rose 0.6% to close at a record high. After Tesla’s stock price soared, the automaker reported a blowout production data, and the U.S. benchmark index was boosted.

The rise in Apple’s stock pushed the iPhone maker’s market value to $3 trillion and also boosted the index.

After the worst year for the global bond market in more than two decades, the price of US Treasury bonds also fell sharply on Monday, which is a bad start to 2022.

The benchmark 10-year US Treasury bond yield rose by nearly 0.13 percentage points, exceeding 1.6% for the first time since the emergence of the Omicron coronavirus strain at the end of November, causing yields to plummet.

This marked one of the largest US Treasury sales in the past year.

New York attorney general expands investigation into Trump’s business practices

New York Attorney General Letitia James issues subpoenas to Ivanka Trump (left) and Donald Trump Jr. © Evan Vucci/AP

The New York Attorney General expanded the investigation of Donald Trump’s business empire, issuing subpoenas to the two eldest sons of the former president.

According to documents submitted to the New York Supreme Court on Monday, Letitia James issued subpoenas to Trump, Ivanka Trump and Donald Trump Jr. last month. Her office stated that investigators are “seeking a sworn interview with all three family members.”

Court documents stated that the issuance of the subpoena was “related to an investigation into the valuation of properties owned or controlled by Donald J. Trump or the Trump Organization”.

It is believed that James’ investigation focused on whether the former president had exaggerated the value of his property for some purpose—for example, obtaining bank loans or insurance—while minimizing it when paying taxes.

New documents dated December 30 indicate that as part of the investigation, lawyers for the former president and his adult children are trying to prevent James’ staff from interviewing them.

“Despite the Trump Organization’s repeated attempts to postpone our investigation, we believe that our questions will be answered and the truth will be revealed because no one can be above the law,” said the attorney general’s office.

Read more about investigation.

Driven by pandemic demand, Apple became the first company with a market value of $3 trillion

Apple became the first company with a market capitalization of US$3 trillion. In less than 16 months, the stock price of large technology companies rose by US$1 trillion due to the coronavirus pandemic.

The iPhone maker became a US$1 trillion company in August 2018 and became the first company to reach a US$2 trillion valuation two years later. On Monday, the company’s stock price rose 3% to US$182.86, surpassing the latest milestone, and then fell back to close at US$182.01.

Apple briefly lost the title of Microsoft’s world’s most valuable company at the end of October. However, the strong rebound in November regained the crown. Then it soared to the end of 2021, and its market value increased by $500 billion since November 15.

Only a few companies are worth more than $1 trillion, including Tesla and Amazon. Google’s parent company Alphabet and the oil group Saudi Aramco are valued at approximately US$2 trillion, while Microsoft’s market value is approximately US$2.5 trillion.

Apple’s stock price has risen by more than 30% in 2021 because it has skilfully weathered the supply chain crisis and benefited from the additional demand for iPhones, Macs and iPads when customers upgrade their home offices during the pandemic.

Read more about Apple.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *