Live: ASX set to rise, ASIC fronts KPMG inquiry
Australian shares are set to rise after Wall Street rallied as US Treasury yields eased for the second straight session. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
The US stock market experienced a positive start to the trading day following remarks from a high-ranking Federal Reserve official. The official indicated his support for maintaining interest rates steady, should recent economic data suggest a reduction in inflationary pressures. This announcement led investors to lower their expectations of a forthcoming interest rate hike.
Consequently, US Treasury yields experienced a decline, which in turn boosted share prices. Down under, the Australian Securities and Investments Commission (ASIC) is set to face parliamentary inquiries regarding the KPMG audit leaks controversy. The proceedings are scheduled to commence at 8:30 am AEST, with business reporter Lin Lin providing coverage of the markets throughout the day.
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.
