Investors looking for a catalyst to keep the Australian sharemarket out of bear territory and dig its way out of correction are hoping for something – anything – to snap the downbeat mood.
After Tuesday's carnage, the S&P/ASX 200 Index came close to 2 per cent away from a 20 per cent drop from April's peak, the technical definition of a bear market. A big quarter for capital raisings continued on Wednesday with Origin Energy capitulating and turning to investors for an extra $2.5 billion, joining the banks and Myer.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
