Precise Investors

Latest News

Surprise new SA bank tax takes shine off ASX gains

Shares rebounded strongly from Wednesday’s thrashing as investors showed they were willing to jump back into sold-down resources stocks, but late news of a state-based bank tax undercut solid bank gains.

With a dearth of major corporate announcements or economic data on Thursday, investors looked for opportunities to buy back into the market a day after the ASX suffered its worst loss since the US election in November of last year.

That helped the benchmark S&P/ASX 200 index end the session up 40 points, or 0.7 per cent, to 5706, while the broader All Ordinaries index climbed by a similar margin to 5742.


This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Leave a Reply

sixteen + 4 =