The Australian sharemarket maintained its gains despite the Reserve Bank holding the cash rate steady at 4.35%, citing persistent inflation concerns. The S&P/ASX 200 Index was up 0.8%, trading at 7,708.7 points in late trading, with six of 11 sectors in positive territory.
In one of the scariest sessions I’ve seen since the GFC, global equities imploded overnight, led by a 13.5% fall in Japan’s Nikkei, the largest fall since the Black Monday crash back in 1987
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