ASX opens higher as inflation concerns hit the real estate market

Aerial view of a suburb and ASX map.

Rising inflation around the world is causing a stir in the real estate market, and ASX is expected to start the day in green (Source: Getty)

ASX: The local market is set to open today in the green after the ASX was rattled yesterday by Reserve Bank’s interest rate decision.

Shares fell yesterday on the back of RBA Gov. Philip Lowe, who said the central bank was not looking to raise interest rates at some point.

Wall St: U.S. stocks hit new highs last night in yet another record session.

Positive earnings results helped boost investor confidence, with all US indices rising.

The Dow Jones and S&P 500 rose, while the Nasdaq rose more modestly, offset by a fall in Tesla (TSLA).

BTC: Bitcoin rose overnight as crypto-mining companies outperformed other crypto-linked stocks as mining continues to be lucrative.

Property update: Inflation is rising worldwide – including in the US, UK and New Zealand – and Australia is the latest country to join the chaos.

But how will this affect the Australian real estate market? Michael Yardney explains in the video below.

Face recognition: Facebook has announced that they are shutting down its face recognition system, which automatically identifies users on photos and videos.

Facebook said the decision was made because of growing societal concerns about the use of that kind of technology.

Climate conference: Australian Prime Minister Scott Morrison has said Australia will play a global role in helping other countries reduce their emissions and better prepare for disasters as he leaves the COP26 climate talks in Glasgow.

But not everyone sees it that way. Labor leader Anthony Albanese has criticized Morrison Government’s climate plan as a pre-election political agreement.

Agreement executed: Australia has ratified a massive free trade agreement with the Asia-Pacific countries, but insists the move does not change the government’s “serious concerns” about the political situation surrounding the signatory Myanmar.

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