Latest news with #AustralianSecuritiesExchange
Fintech News ME
15 hours ago
- Business
- Fintech News ME
Property Finder Appoints REA Group CEO Owen Wilson to Board
Property Finder, a Dubai-based property portal, has appointed Owen Wilson, Chief Executive Officer of REA Group, to its Board of Directors. Wilson brings extensive executive and operational experience, including nearly a decade at REA Group. He joined the Australia-based company as Chief Financial Officer before being appointed Chief Executive Officer. REA Group, listed on the Australian Securities Exchange (ASX) with a market capitalisation of approximately US$ 20 billion, is known for operating an Australian property platform. The company is majority-owned by News Corp and was previously a shareholder in Property Finder. During his tenure, Wilson led REA Group through a period of consistent growth and international expansion. The business has gained a reputation as one of the most advanced digital real estate companies globally. Wilson's appointment to Property Finder's Board reflects the company's focus on strengthening governance, enhancing innovation, and continuing to develop its services for home seekers, buyers, and partners in the region. Owen Wilson said: 'I've long admired Property Finder's bold vision and the transformative role it plays in reshaping real estate across the MENA region. Under Michael's leadership, the team's relentless focus on innovation, customer experience, and data-driven decision-making closely aligns with the values I've championed throughout my career. I'm excited to support Michael and the Board as the company embarks on its next chapter of growth and continues to shape the future of property search.'
Time Business News
21 hours ago
- Business
- Time Business News
ASX Today: What's Moving the Markets and Why It Matters
Every trading day, the ASX today reflects the pulse of the Australian economy. The ups and downs of the market are shaped by a complex web of factors, from global events and corporate earnings to investor sentiment and policy changes. But for investors and professionals alike, understanding what's driving the market is essential to making informed decisions. In this article, we'll unpack what's influencing the ASX 200 list, explore the latest stock market news, and explain why these movements matter for both short-term traders and long-term investors. The Australian Securities Exchange (ASX) is home to more than 2,000 listed companies and plays a pivotal role in the Asia-Pacific financial landscape. Each day, the ASX index — particularly the ASX 200 — offers a real-time snapshot of market performance, investor confidence, and economic trends. As of today, several forces are influencing movements across key sectors. The major players include global market sentiment, commodity price fluctuations, earnings reports, and domestic policy announcements. Keeping an eye on the ASX today allows investors to respond proactively rather than reactively. 1. Global Economic Sentiment International markets remain a powerful force on the ASX. The overnight performance of US and European exchanges often sets the tone for the Australian open. If Wall Street rallies on strong jobs data or earnings results, local investors tend to follow suit. Conversely, concerns about inflation, interest rates, or geopolitical instability can dampen local market confidence. 2. Commodities and Resources Australia's economy is heavily influenced by resource exports. Today, iron ore and lithium prices are drawing attention. Strong demand from China continues to buoy miners like BHP, Rio Tinto, and Fortescue Metals. Investors tracking stock market news will notice that shifts in commodity prices often translate quickly into ASX performance, particularly within the materials and energy sectors. 3. Earnings Season Updates Corporate earnings remain one of the biggest drivers of short-term market movements. Companies reporting better-than-expected profits typically see a share price boost, while disappointing results can lead to a swift sell-off. Today's earnings highlights include major retail and financial sector players, and their performance is shaping broader sector sentiment. 4. RBA and Interest Rate Expectations The Reserve Bank of Australia (RBA) plays a key role in shaping market expectations. While the official cash rate hasn't moved this month, speculation continues about future hikes or cuts based on inflation data and economic forecasts. This directly affects bank stocks and consumer discretionary companies, which are sensitive to borrowing costs and household spending. Despite global headwinds, tech stocks on the ASX have shown pockets of resilience. Today's gains in this sector are being driven by optimism around AI applications and cybersecurity investments. However, volatility remains high, and staying updated with accurate Australian finance news is vital for understanding the risks and opportunities. – Healthcare ASX-listed healthcare giants such as CSL and Cochlear remain defensive favourites. Amid global uncertainty, investors are looking for stability, and today's activity in this sector suggests continued confidence in long-term fundamentals. – Financials The big four banks are steady performers today, supported by robust earnings reports and low default rates. However, analysts are closely watching any guidance related to mortgage activity and provisions for loan losses. Understanding the forces behind the ASX today can help investors rebalance their portfolios. For instance, a surge in commodities might prompt a reallocation towards mining stocks, while signals of rising rates could lead to caution in interest-rate-sensitive sectors. – Opportunity Timing Short-term traders look for daily volatility to generate returns. Today's activity in energy and tech presents such opportunities, but only for those equipped with timely stock market news. – Economic Insight Daily ASX movements don't just reflect investor behaviour; they also mirror broader economic health. A strong day on the ASX often points to optimism about Australia's growth prospects, consumer confidence, and business resilience. In today's digital age, it's easy to get overwhelmed by headlines and commentary. That's why accessing reliable, independent, and analytical Australian finance news is essential. Platforms like FN Arena deliver curated insights, backed by data and expert commentary, helping investors separate signal from noise. By staying informed through credible financial news sources, you gain the tools to make rational, well-timed decisions — rather than being swayed by market noise or speculation. The ASX today is more than just numbers on a screen. It's a dynamic reflection of investor sentiment, economic indicators, and sectoral shifts. Whether you're a self-managed super fund trustee, a day trader, or someone managing long-term wealth, understanding what moves the markets — and why — can make all the difference. Staying on top of the latest stock market news and broader Australian finance news helps sharpen your strategy, build your confidence, and ultimately grow your financial success. TIME BUSINESS NEWS
Perth Now
5 days ago
- Business
- Perth Now
Share market operator probed after 'serious' failures
Australia's corporate watchdog will hold an inquiry into governance and risk management at the Australian Securities Exchange after "repeated and serious" failures. "Investors and market participants deserve to have absolute confidence that ASX is operating soundly, securely and effectively," Australian Securities and Investments Commission chair Joe Longo said in a statement. "ASIC's decision to initiate an Inquiry follows repeated and serious failures at ASX." The incidents included multiple breakdowns of the bourse's decades-old Clearing House Electronic Subregister System (CHESS) settlement system and a breach of market transparency rules in 2022. The bourse operator has also been under pressure from ASIC and co-regulator the Reserve Bank for ASX's lack of progress to modernise CHESS and a scrapped plan to upgrade it with blockchain technology in 2022. An investigation into the failure of the system in December last year will be scrapped and folded in to the broader inquiry. While the probe was underway, it was crucial ASX prioritised the safe and efficient operation of its trading infrastructure, including progress towards the first release of its CHESS replacement project in mid-2026, Mr Longo said. "ASX is ubiquitous, you simply cannot buy and settle on the Australian public equities and futures markets without relying on ASX and its systems," he said. "The Inquiry provides an opportunity for ASX to bolster market trust." The inquiry panel, to be named in the coming weeks, will be asked to examine the frameworks and practices in relation to governance, capability, and risk management within ASX group. The bourse operator's leadership team acknowledged the seriousness of the inquiry and pledged their full co-operation. "We welcome the opportunity for independent parties to review the work underway and advise on what more we can do," ASX chair David Clarke said. "We have been working hard on a transformation strategy with several of the initiatives designed to strengthen culture and capabilities, operational risk management, business resilience and technology resilience, but we acknowledge there have been incidents that have damaged trust in ASX."
West Australian
5 days ago
- Business
- West Australian
ASIC launches investigation into ASX after ‘repeated and serious failures' in trading infrastructure
The corporate watchdog ASIC has launched an investigation into the Australian Securities Exchange following 'repeated and serious failures' in maintaining the infrastructure critical to equities trading. The inquiry will examine a series of technology failures at the ASX, primarily related to its troubled upgrade of the CHESS settlement system, which manages the settlement of share transactions and records shareholdings. ASIC and the Reserve Bank voiced deep concerns in December 2024 when the CHESS system failed to complete a settlement run. 'ASIC's decision to initiate an inquiry follows repeated and serious failures at ASX,' chair Joe Longo said. 'ASX is ubiquitous — you simply cannot buy and settle on Australia's public equities and futures markets without relying on ASX and its systems. 'The inquiry provides an opportunity for ASX to bolster market trust.' ASIC will convene an expert panel to review the ASX Group's organisational structure, board governance, risk and compliance frameworks, financial objectives, and its mix of monopoly and competitive services. The panel will also examine how the organisation identifies and responds to concerns raised by staff, regulators and market participants. The panel, which would include representatives of the RBA, APRA and the ACCC, will consider whether current reform initiatives underway at the ASX are adequate and, if not, recommend remedial actions. A final report will be delivered to ASIC at a date to be agreed. ASX Chairman David Clarke said the firm acknowledged the seriousness of the action, and would give the inquiry its full cooperation. 'We have been working hard on a transformation strategy with several of the initiatives designed to strengthen culture and capabilities, operational risk management, business resilience and technology resilience, but we acknowledge there have been incidents that have damaged trust in ASX,' he said. 'We welcome the opportunity for independent parties to review the work underway and advise on what more we can do.' The ASX is midway through a five-year technology modernisation program that includes maintaining the existing CHESS platform, introduced in 1994, while building a blockchain-based replacement. The initial attempt to upgrade CHESS was plagued by delays and problems, resulting in pre-tax write downs of $250 million about three years ago. The project was ultimately scrapped in late 2022, shortly after Helen Lofthouse became ASX chief executive. The failure to implement a new system had put the ASX in the sights of a class action suit that would target former ASX executives, management and potentially board members, according to a recent repor t in the Australian Financial Review. ASIC will discontinue its separate investigation into the 20 December 2024 CHESS batch settlement failure, with the incident instead to be considered as part of the broader Inquiry, alongside a series of other failures dating back to 2016, including a hardware fault that delayed the market opening and forced an early closure that year. Other issues included capacity constraints during the COVID-19 volatility in March 2020, a full-day outage caused by a failed software upgrade in November 2020, and the abandonment of the original CHESS replacement project in 2022, which is now the subject of legal proceedings. Meanwhile, ASX has announced the departure of Group Executive Listings Blair Beaton, who leaves following an extended period of personal leave. Mr Beaton, who joined the exchange in 2017 as Chief Strategy Officer and became head of Listings in August 2022, was praised by CEO Helen Lofthouse for his 'dedication, diligence and enthusiasm' and his advocacy for ASX as the nation's premier listings venue. More to come...
Perth Now
5 days ago
- Business
- Perth Now
‘Serious failures': ASIC launch ASX investigation
The corporate watchdog ASIC has launched an investigation into the Australian Securities Exchange following 'repeated and serious failures' in maintaining the infrastructure critical to equities trading. The inquiry will examine a series of technology failures at the ASX, primarily related to its troubled upgrade of the CHESS settlement system, which manages the settlement of share transactions and records shareholdings. ASIC and the Reserve Bank voiced deep concerns in December 2024 when the CHESS system failed to complete a settlement run. 'ASIC's decision to initiate an inquiry follows repeated and serious failures at ASX,' chair Joe Longo said. 'ASX is ubiquitous — you simply cannot buy and settle on Australia's public equities and futures markets without relying on ASX and its systems. 'The inquiry provides an opportunity for ASX to bolster market trust.' ASIC will convene an expert panel to review the ASX Group's organisational structure, board governance, risk and compliance frameworks, financial objectives, and its mix of monopoly and competitive services. The panel will also examine how the organisation identifies and responds to concerns raised by staff, regulators and market participants. The panel, which would include representatives of the RBA, APRA and the ACCC, will consider whether current reform initiatives underway at the ASX are adequate and, if not, recommend remedial actions. A final report will be delivered to ASIC at a date to be agreed. ASX Chairman David Clarke said the firm acknowledged the seriousness of the action, and would give the inquiry its full cooperation. 'We have been working hard on a transformation strategy with several of the initiatives designed to strengthen culture and capabilities, operational risk management, business resilience and technology resilience, but we acknowledge there have been incidents that have damaged trust in ASX,' he said. 'We welcome the opportunity for independent parties to review the work underway and advise on what more we can do.' The ASX is midway through a five-year technology modernisation program that includes maintaining the existing CHESS platform, introduced in 1994, while building a blockchain-based replacement. The initial attempt to upgrade CHESS was plagued by delays and problems, resulting in pre-tax write downs of $250 million about three years ago. The project was ultimately scrapped in late 2022, shortly after Helen Lofthouse became ASX chief executive. The failure to implement a new system had put the ASX in the sights of a class action suit that would target former ASX executives, management and potentially board members, according to a recent report in the Australian Financial Review. ASIC will discontinue its separate investigation into the 20 December 2024 CHESS batch settlement failure, with the incident instead to be considered as part of the broader Inquiry, alongside a series of other failures dating back to 2016, including a hardware fault that delayed the market opening and forced an early closure that year. Other issues included capacity constraints during the COVID-19 volatility in March 2020, a full-day outage caused by a failed software upgrade in November 2020, and the abandonment of the original CHESS replacement project in 2022, which is now the subject of legal proceedings. Meanwhile, ASX has announced the departure of Group Executive Listings Blair Beaton, who leaves following an extended period of personal leave. Mr Beaton, who joined the exchange in 2017 as Chief Strategy Officer and became head of Listings in August 2022, was praised by CEO Helen Lofthouse for his 'dedication, diligence and enthusiasm' and his advocacy for ASX as the nation's premier listings venue. More to come...
