ASX falls 0.3pc as US market weakens; Rinehart's Hancock splashes $1.13bn on oil, gas in WA
The ASX hits a four-week low before rebounding. Gains in tech, consumer discretionary, property and financial stocks are offset by falls elsewhere. Investors pile into Mineral Resources after Rinehart's $1.13bn deal. JB Hi-Fi, Wesfarmers and Coles rise on positive updates.
The sharemarket dived to a four-week low before rebounding slightly. It comes amid heightened US political uncertainty before Tuesday's Presidential election and fading hope of domestic interest rate cuts in the next few months.
That's all from the Trading Day blog. The ASX 200 ends down 0.3 per cent at 8155.4 points on broad-based falls after the US market fell. Mineral Resources, consumer-discretionary stocks and banks find support after encouraging updates from JB Hi-Fi, Coles and Corporate Travel.
The Australian dollar was trading around US65.76c.
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