Australian share market biggest fall
The Australian share market drop again to its biggest fall in more than 18 years yesterday. More than $104 billion was gone after panic selling. It is the biggest 1 day loss since October 16 1989, according to Commsec, which had a problem with server crash yesterday morning for about 20 minutes due to the excessive number of investors trying to sell or buy stocks. I actually got account with commsec as well, and i thought the problem is because of the Website update, but apparently they did have a crash with their server, which is actually something shouldn’t be happened to such a big and reputable company like commsec.
The fears of a US recession sparked a contagion that spread from Europe to Asia, causing the australian share market to drop again for a 12th straight trading day. The Australian Federal Treasurer, Wayne Swan, told investors to calm down, DON’T PANIC. But the thing is when you hold a lot of stocks which dropped up to 25%, will you be not panic? I would like to hear from you guys, what you gonna do on this stage? do nothing, sell every stocks you got or even buy more stocks?
Costco is coming to Australia
One of my favourite tv show is the “Current Affair” which is shown at 6.30 pm monday to friday. On Current Affair yesterday show, they mention about the Big Discount supermarket Costco which will soon open their shop in australia. First opened in the 1970s in San Diego as a price club, this retail giant has grown from a warehouse style outlet store for members only to a hugely-popular cost-saving brand. To see how much you can save if you shop in Costco here are just a few sample item from the US store, converted into Australian dollars.
The Bulletin Magazine Special offer for $25
Just wanna share this special offer from bulletin magazine, where you can subscribe for just only $25 for 25 issue. That’s only cost you $1 each, and already including delivery. Cover retail price is A$6.25 per issue. So for sure it’s a very good offer. Btw, the Offer ends by 30 October 2007. So be hurry if you want to get this deal.
You can get this offer from magshop by follow this link to grab this offer: Bulletin Magazine Special Offer
New Tax Scales from 1st July 2007
Last night Peter Costello has announced his 12th federal budget for 2007, including a new Tax scales from 1st July 2007.
What do you think about this new tax scales?
Australia Interest Rate
As many people predicted before, the interest rate is increase again for the third time on this year 2006. It was first increase on may 2006, then August 2006, then and finally today on November 2006. Three times raise in the same year, that’s very interesting.
Today, the Australia Reserve Bank increase the interes rates by a quarter of one per cent to 6.25 per cent. For people who are looking forward to buying our own first house this kind of circumstances is a bit scary, because if we take a mortgage on variable rate, then its a really a bad news for us. Lucky i didn’t sign up with any mortgage with variable rate yet , because actually I’m looking forward to own my first house/apartment unit here in Sydney. But for sure next year, i might get one once i find a good unit around Sydney. Hopefully at that time the house price will getting cheaper or interest rate might be lower ( but i don’t think its gonna be happened)