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ASX to open flat as plan to add 26,000 jobs unveiled

·2-min read
The ASX board showing price changed and people cross a busy crossing in the Sydney CBD.
The local market is set for a steady start as a new plan promises to add 26,000 jobs. (Source: Getty)

Good morning.

ASX: The local market is expected to stay flat at the open after a choppy session in the US.

This comes after gold stocks and miners pushed the ASX higher yesterday as inflation concerns hit the United Kingdom.

Wall St: US stocks have had a mixed session overnight. The Nasdaq and the S&P 500 helped pull Wall Street higher, but the Dow Jones dragged the indices down.

BTC: Bitcoin fell below US$60,000 as sellers remained active overnight, pushing the price to its lowest in three weeks.

Bitcoin was down 4.2 per cent over the past 24 hours to around $57,800, after failing to sustain an all-time high around US$69,000 last week.

Green jobs: More than 26,000 jobs could be created and emissions reduced by 10 per cent over the next decade under a new roadmap for Australia's bioenergy sector.

Bioenergy comes from materials generated in forestry, agriculture or other waste streams and can be used for producing heat, electricity, gas and liquid fuels.

The sector is expected to contribute $10 billion to Australia's annual GDP by the 2030s.

Party time: Victorians fully vaccinated against COVID-19 can pack into pubs and hit the dance floor again, after more freedoms were returned ahead of summer.

The changes mean double-dosed Victorians are now able to dance in clubs, home visitor limits, along with cafe, bar and restaurant density caps have been dumped.

Chinese property: Eyes are still on the Chinese property market as the world's most indebted company Evergrande makes another play to avoid default.

The Chinese property developer is selling its entire stake in streaming services firm HengTen for $376 million. But, it’s not likely to be enough, with S&P Global Ratings saying a default is still "highly likely".

The knock-on effects of Evergrande’s collapse could cause property markets around the world to follow suit.

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