Live: Private credit fund redemption limits hit Australia
A perceived shift in the Iran war from a military conflict to an economic one sees Treasury yields and the price of oil dive and shares rise. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Australia's private credit troubles have escalated as a major investment firm implemented limits on redemptions. The Australian Securities Exchange (ASX) experienced a decline on Wednesday, with the ASX200 index closing at 9,127.8 points, down 0.4% from the previous trading session. Inflation rates remain excessively high, according to the Australian Bureau of Statistics (ABS).
Retail giant Woolworths reported an 18% increase in headline profit to $1.1 billion. Other key stock performances include the worst-performing ASX200 stock, DroneShield, which saw a 21.5% drop to $1.73 following the release of its half-year profit results.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
