The Australian share market has dropped by about 1.6 per cent after concerns about Chinese economic growth sparked falls on major markets around the world.
Perth dwelling values took a surprise positive turn in the last month of 2015, but a property analyst predicts growth in the local housing market is still at least a year away.
The Australian share market is one per cent down after Wall Street suffered two per cent falls amid worries about the Chinese economy and renewed Mideast tensions.
Gold prices have rallied two per cent to a four-week high, buoyed by rising tensions in the Middle East and a sharp drop in stocks following weak Chinese data.
US stocks have begun 2016 sharply lower, with the Dow marking its worst start to a year since 2008.It came after weak Chinese economic data fanned fears of a global slowdown.
Listed sandalwood producer TFS Corporation and China-backed Kimberley Agricultural Investment have been selected as the preferred proponents to develop 5,000 hectares in the Ord River irrigation area.
Brent crude oil prices have touched their weakest level in over 11 years on concerns of global oversupply, while Wall Street ended higher as investors went shopping after two days of sharp declines.
Gold futures prices are up than one per cent as weaker than expected US data and uncertainty about how fast the Federal Reserve will tighten interest rates next year weighed on the US dollar.
US stocks have ended stronger, helped by bounces in Apple and Microsoft as well as a rally in hospital stocks after more Americans signed up for subsidised health insurance.
The Turnbull government has sought to head off a Labor-trade unions scare campaign on weekend penalty rates by leaving any change to the independent workplace umpire.
The state government has flagged more asset sales after its mid-year budget update confirmed deepening financial problems, with the annual deficit worse than expected and state debt tipped to reach an unprecedented $39 billion.
Gold rose more than one per cent on Friday, recovering from its biggest daily loss in five months as the US dollar retreated, but remained near multi-year lows after the Federal Reserve lifted US interest rates.
Acrimony and finger pointing continue at a political level as the state government faces a ‘horrible' mid-year budget review, with latest figures suggesting the recent dramatic increase in state debt has been fuelled by a spending push that has outpaced revenue growth.
