AUSTRALIAN STOCKS SLUMP: Here’s what you need to know

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Australian shares closed lower, hit by escalating talk of war.

Today’s scoreboard:

  • ASX 200: 5,693.10 -67.83 -1.18%
  • All Ordinaries: 5,743.50 -67.08 -1.15%
  • AUD/USD: 0.7862 -0.0013 -0.17%

The local market was run over by a global rout caused by tension
between North Korea and the US.

The ASX200 fell below the key 5700 support level, with the major
banks and the big miners leading the slump.

The ANZ was down 1.9% to $29.260 and Westpac 1.3% to $31.61.

Among the miners, BHP dropped 2% to $25.55 and Rio Tinto 2.8% to
$63.18.

Top stories:

1.
Rattling sabres.
Australia will “come to the aid of the
United States” if North Korea attacks.
Also read:
North Korea’s strategy explained.

2.
ASIC is also investigating the Commonwealth Bank.
The
corporate regulator has confirmed it is investigating the bank
over its conduct in the money laundering scandal.

3.
News Corp has written down the value of Foxtel.
Mainly
because of the falling value of its investment in the Ten
Network.

4.
Nothing to worry about with Amazon.
Baby Bunting’s investor
presentation. Its shares closed at $1.60, down 17.9%.

5.
realestate.com.au’s profits are down.
REA Group reported a
19% fall in full year profit to $206.06 million, mainly due to a
write-down in the value of the company’s Asia business. REA
shares fell 5.9% to close at $64.35.

6.
NAB is in line for a record year.
The NAB posted a 5% rise in
June quarter cash earnings to $1.7 billion.

7.
Will wages finally rise?
According to ANZ Bank, wage growth
is likely to accelerate in the period ahead.

8.
The first Australian airline with international inflight
wi-fi.
The airline has been trialing wi-fi on a single Boeing
737 since April.

9.
Who really needs a personal assistant?
Elon Musk responds to
story of him putting his assistant through a 2-week test.


AUSTRALIAN STOCKS SLUMP: Here's what you need to know AUSTRALIAN STOCKS SLUMP: Here’s what you need to know asx close aug 11 20917 300x169

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