Australian Shares Track Global Peers Lower

Australian Shares were flat on Thursday's close on concerns from Wall Street investors amid the escalating Russia-Ukraine Tensions.

The S&P/ASX 200 Index changed little to close at 8,323.20

US stocks fell after President Vladimir Putin lowered the threshold for nuclear action and Ukraine fired US-made missiles into Russia, Reuters reported.

Asian stocks also fell after American technology company Nvidia posted subdued revenue forecasts, the report said.

On the domestic front, House prices continued to be less affordable for Australians in 2024, with buyers turning to apartments as their entry point to the property market, according to the ANZ CoreLogic Housing Affordability report.

In corporate news, Pinnacle Investment Management Group raised AU$400 million via an institutional placement of 19.7 million ordinary shares at AU$20.30 apiece. Proceeds will be used to fund Pinnacle's strategic investments in VSS Capital and Pacific Asset Management, as well as support new strategies for existing affiliates and other growth initiatives. The company shares rose almost 3% at market close.

Mineral Resources Non-Executive Chairman James McClements will step down to align with the company's new governance reforms amid allegations faced by Managing Director and Chief Executive Chris Ellison. Its shares fell 3% at close.

HMC Capital launched an Australian Securities Exchange-listed Digital Infrastructure REIT DigiCo (ASX:DGT), with an enterprise value of AU$4.3 billion from data center assets in Australia and the US. HMC Capital's rose past 1% at market close and earlier hit an all-time high.

Australian Shares were flat on Thursday's close on concerns from Wall Street investors amid the escalating Russia-Ukraine Tensions.

The S&P/ASX 200 Index changed little to close at 8,323.20

US stocks fell after President Vladimir Putin lowered the threshold for nuclear action and Ukraine fired US-made missiles into Russia, Reuters reported.

Asian stocks also fell after American technology company Nvidia posted subdued revenue forecasts, the report said.

On the domestic front, House prices continued to be less affordable for Australians in 2024, with buyers turning to apartments as their entry point to the property market, according to the ANZ CoreLogic Housing Affordability report.

In corporate news, Pinnacle Investment Management Group raised AU$400 million via an institutional placement of 19.7 million ordinary shares at AU$20.30 apiece. Proceeds will be used to fund Pinnacle's strategic investments in VSS Capital and Pacific Asset Management, as well as support new strategies for existing affiliates and other growth initiatives. The company shares rose almost 3% at market close.

Mineral Resources Non-Executive Chairman James McClements will step down to align with the company's new governance reforms amid allegations faced by Managing Director and Chief Executive Chris Ellison. Its shares fell 3% at close.

HMC Capital launched an Australian Securities Exchange-listed Digital Infrastructure REIT DigiCo (ASX:DGT), with an enterprise value of AU$4.3 billion from data center assets in Australia and the US. HMC Capital's rose past 1% at market close and earlier hit an all-time high.

The BSE Sensex fell 487 points or 0.6% to 77,091 in early deals on Thursday while hitting its lowest level since mid-June, halting gains in the previous session, impacted by a plunge in Adani stocks, after the indictment of Gautam Adani, the billionaire chair of Indian conglomerate Adani Group in New York on Wednesday over an alleged bribery plot.

Adani Green, Total Gas, and Adani Power slumped by 18.9%, 14.8%, and 15%, respectively.

Adani Enterprises and Adani Ports sank 10% each.

The Nifty 50 dropped 0.7% to below 23,350, with all sectors traded in the red, excluding tech stock, amid ongoing foreign outflow.

The tech sector rose 0.4% after chipmaker Nvidia reported better-than-expected results.

However, a forecast Indian GDP for the current quarter limited the fall, following the RBI monthly bulletin on Wednesday, which reported that the country's economic growth would accelerate to 7.6% in Q3, faster than an estimated 6.7% in Q2.

New Zealand's benchmark S&P/NZX 50 index inched 0.2% higher at 12,765 on Thursday.

New Zealand's Treasury announced it would likely revise down its economic and fiscal forecasts due to a prolonged slowdown in productivity.

This prompted investors to increasingly factor in the possibility of the Reserve Bank of New Zealand implementing a more aggressive 75bps cut to its 4.75% cash rate at its policy meeting next week, with a 50bps reduction already fully priced in.

On the corporate front, shares of Infratil gained 0.9% after it disclosed a plan to offer six-year unsecured, unsubordinated, fixed-rate infrastructure bonds.

Additionally, banks Westpac and ANZ added 1.2% and 2.9%, respectively.

New Zealand's benchmark S&P/NZX 50 index inched 0.2% higher at 12,765 on Thursday.

New Zealand's Treasury announced it would likely revise down its economic and fiscal forecasts due to a prolonged slowdown in productivity.

This prompted investors to increasingly factor in the possibility of the Reserve Bank of New Zealand implementing a more aggressive 75bps cut to its 4.75% cash rate at its policy meeting next week, with a 50bps reduction already fully priced in.

On the corporate front, shares of Infratil gained 0.9% after it disclosed a plan to offer six-year unsecured, unsubordinated, fixed-rate infrastructure bonds.

Additionally, banks Westpac and ANZ added 1.2% and 2.9%, respectively.