You are viewing:-
you're reading...
1.Market Observations, 2.share trading, 8.Was Sticky

7 Aug 2019 (AFR) – Yuan fallout wipes $53b off the ASX

(7 August 2019, AFR, p26, William McInnes, Reporter)

Markets roundup Tuesday (CBA, AFR)

Markets roundup Tuesday (CBA, AFR)

‘The Australian sharemarket saw $53 billion wiped from its boards on Tuesday as a global market sell-off entered its second day, reversing two months worth of gains in the local market. The S&P/ASX 200 Index dropped 162.2 points, or 2.4 per cent, to 6478.1 while the broader All Ordinaries collapsed 164.2 points, or 2.5 per cent, to 6546.4. Shares on Wall Street and across Europe were hit hard on Monday after the Chinese yuan moved through the psychological seven per US dollar barrier, sparking fears Beijing was allowing the currency to weaken in order to battle the trade war. On Tuesday morning (AEST), US Treasury Secretary Steven Mnuchin labelled China a currency manipulator, pledging he would “engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China’s latest actions”, according to a statement from the department.

Read more at (might need AFR log in access, or try:

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.


No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: