ASX up as jobs listings hit 12 year high; Tesla and Crypto markets soar – ABC News


The Australian share market is rising after its long weekend break, as US stocks and the cryptocurrency market hit new highs.

At 12:00pm AEST, the ASX 200 was up 0.8 per cent to 6,885.

The benchmark closed up on Thursday before the long weekend without trade on Friday and Monday.

Strong performers on Tuesday included Webjet (+3.3pc), buy-now-pay-later Zip (+6.2pc), and Whitehaven Coal (+4.7pc).

Data out of ANZ has shown job listings rose 7.4 per cent in March. 

The bank’s analysts said job listings were now at their highest level since late 2008. That was when jobs were starting to retract during the GFC.

A long queue outside a Centrelink office extends down a street with people wearing masks and carrying umbrellas. Mood is tense.
ANZ believes up to 150,000 peope will lose work in Australia due to the end of JobKeeper.(

Getty Images: Bloomberg / Contributor

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ANZ senior economist Catherine Birch said job listings were also 23 per cent higher than before the pandemic.

“This gives us further confidence that the impact of the end of JobKeeper will be smaller than previously feared,” she said.

“Of the 1.1 million workers that Treasury estimates were still receiving the JobKeeper payment in Q1, we estimate that 100,000 to 150,000 people will lose employment, equivalent to 0.8-1.2 per cent of the current workforce.

“But we think net employment losses will be smaller, as growing labour demand elsewhere should mean many workers find a new job relatively quickly.

Aussie dollar up as greenback dips

The Australian dollar rose slightly overnight before dipping again on Monday to 76.46 US cents.

The US dollar dipped as its share market hit highs, and Treasury yields held below recent highs, keeping inflation worries in check.

Tesla shares climbed 4.43 per cent, giving one of the biggest boosts to the S&P 400.

That came as the electric car and battery pioneer posted record deliveries.

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Tesla said it delivered 184,800 vehicles globally during the first quarter of 2021, above estimates of 177,822 vehicles.

That was led by strong demand for Tesla in China that helped offset the impact of a global shortage in auto parts.

“Great work by Tesla team!” its founder Elon Musk tweeted.

“Special mention of Tesla China.”

Crypto market hits new high

The cryptocurrency market capitalization hit an all-time peak of US$2 trillion on Monday (US time) according to data and market trackers CoinGecko and Blockfolio.

The surge was led by bitcoin, which hit its own milestone by holding at a US $1 trillion market cap for one week.

Bitcoin was last up 1.4 per cent at US$59,045. Since hitting a lifetime peak of more than US$61,000 in mid-March, bitcoin has traded in a relatively narrow range.

Analysts said as long as bitcoin stays above $53,000, it will be able to maintain its $1 trillion market cap.

Ethereum, the second largest cryptocurrency in terms of market cap, was up 1.3 per cent at US$2,103.

It hit a record high of $2,144.99 last Friday.

ABC/Wires



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