Business:Investing
The ASX200 falls 156 points to 7248 (2.10%) as Evergrande woes boil over in Asia. Dow futures down 350 points. Singapore iron ore prices touched US$90 briefly with China closed today. The big miners under extreme pressure, BHP off 4.2%, FMG down 3.7% and RIO falling 3.6%. Other resources followed suit as BSL tumbled 5.0%, S32 down 2.1% and LYC down 11.8%. Uranium. Lithium and other hot pockets saw a big sell off as profit taking and nerves kicked in. PDN down 16.50% and BOE off 17.4%.
The Big Bank Basket was hit to $180.59 with MQG down 3.6% and QBE dipping 2.9%. Healthcare was a little more resilient with CSL down only 0.6% and RMD losing 2.6%. Industrials under pressure with SYD down 1.5% after traffic numbers, REH off 3.6% and TCL in a trading halt as the company looks to shore up capital raise to buy WestConnex.
Energy stocks fall and oil eases back in Asian trade. Tech under pressure too, APT down 2.2% and the All-Tech Index down 2.5%. In corporate news, Brookfield bid $9.6bn for AST with the stock rising 19.2%.
All eyes on Evergrande and central banks this week.
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