The Australian ASX200 is trading at 3450, down 1.1%, NZX-50 down 1% and South Korea’s Kospi off 2.3%. Japan is closed for a public holiday. Asian share markets are trading lower after the US failed to embrace revised proposals to shore up US banks.
Mining stocks in Australia are mainly trading lower after a decline in metal prices overnight. BHP down 2.3%, NCM -0.8%, FMG – 2.5%. RIO which was trading lower has since turned positive, up 1.5%.
CBA is trading up 0.5% after initially trading lower on the back of its first half profits. CBA did report a $1.13 interim dividend, steady from the previous year, but did say that it cannot guarantee future dividends in the current economic uncertainty.
Financials and Tech Stocks were lower in Seoul with KB Financial -4.3% and Samsung Elec -1.6%.
