Sydney, Aug 10, 2007 (ABN Newswire) - The bottom could fall out from under Australian shares after Wall Street tumbled on signs that the US subprime mortgage sector's problems are spreading, and being felt globally. Financial shares such as Macquarie Bank are seen leading declines.
On Thursday, ASX was up 65 points ending at 6,166. On the futures market the SPI200 is down 157.
Turning to currencies, the Australian dollar sunk below 85 cents this morning but at 8:40 AM is buying 85.04 US cents, on the crosses the dollar is buying 100.58 yen, 62.19 Euro cents, and 42.04 British pence
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