Australia: Shares hit by selloff in financials, CBA slumps
[SYDNEY] Australian shares slid to a three-month closing low on Wednesday as investors dumped bank stocks on growth worries, with Commonwealth Bank suffering its biggest daily percentage drop in over six years.
The S&P/ASX 200 index ended 2.3 per cent, or 134.3 points, lower at 5,692.2. The index posted its largest one-day percentage fall in over two years.
Commonwealth Bank shares dropped 5.85 per cent - a magnitude not seen since January 2009 - after reporting flat quarterly cash earnings due to higher regulatory costs.
New Zealand's benchmark NZX 50 index slipped 0.4 per cent, or 22.5 points, to end at 5,765.3.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling