ASX to slip, Wall St lower as tough quarter nears end

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Australian shares are set to edge down at the open, taking direction from Wall Street. Oil retreated on US plans to tap its strategic reserves.

: Future Fund chairman Peter Costello says it would be “dumb” to wind up the Future Fund as long as its earnings are above the returns to be made from cutting government debt.Apple is exploring new suppliers for memory chips used in its iPhones, including a potentially first Chinese supplier, after a key Japanese partner had an output disruption, Bloomberg reported.

For the month, however, the index logged its first monthly gain of 2022. Analysts have attributed this partly to equities appearing to be a better hedge to inflation than bonds.: All outstanding issues have been resolved for an interim agreement with a comprehensive economic co-operation agreement expected to follow in coming months.

Activity in Chinese manufacturing and services simultaneously contracted in March for the first time since the height of the country’s COVID-19 outbreak in 2020.

 

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