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Markets were boosted after Chinese authorities abandoned their automatically market suspension mechanism1, which shut down trade twice this week. Australian shares stemmed some of their falls in afternoon trade. The All Ordinaries Index fell about 1/3 of percent. The ASX200 dropped below the key 5,000 level. The big miners were mixed, but the big banks finished lower. Woodside Petroleum2 gained. And miner, Alumina dropped after it's partner cuts aluminium3 production in the US.
Now Asian markets rose after Chinese authorities increased value of the Chinese currency. The yuan and the price of oil increased. But it's been a volatile4 day of trade by the Shanghai Composite Index. Spot gold is back but still above 1,100 US dollars an ounce. Tapis Crude Oil increased in Asian trade. The Australian dollar recovered ground to around 70.6 US cents.
Now anther Australian iron ore miner is in trouble. The WA miner Gindablie Metals is in a trading halt as it prepares to update the market on its debt laden5 in Karara project next week. That follows a media report that the parent company, Chinese steelmaker Angang Steel won't be able to put new funds into the iron ore mine.
Now in good news for Dick Smith customers, Coles says it will honor Dick Smith gift cards bought at its supermarkets. Dick Smith went into voluntary administration earlier this week. The administrator6 says gift cards and laybuys won't be honored. Coles says it will honor the gift cards bought at its supermarkets but only if customers can produce receipt. One of Dick Smith's online competitors has offered to swap7 the cards. Another has offered a $25 voucher8.
点击收听单词发音
1 mechanism | |
n.机械装置;机构,结构 | |
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2 petroleum | |
n.原油,石油 | |
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3 aluminium | |
n.铝 (=aluminum) | |
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4 volatile | |
adj.反复无常的,挥发性的,稍纵即逝的,脾气火爆的;n.挥发性物质 | |
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5 laden | |
adj.装满了的;充满了的;负了重担的;苦恼的 | |
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6 administrator | |
n.经营管理者,行政官员 | |
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7 swap | |
n.交换;vt.交换,用...作交易 | |
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8 voucher | |
n.收据;传票;凭单,凭证 | |
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