PEAK ASSET: ARVO WRAP 23 JUNE: REITs lift ASX 0.3pc, energy, mining, lithium stocks tumble Netccentric secures e-commerce influencer deal with TikTok Asia shares struggle, oil tumbles

News Snapshot:

Another day in an unrelenting market. From the AFR… The pain on global markets this year has largely been a “P” story. It’s about to become an “E” story, too. The 14 per cent fall in the ASX 200 year to date has pulled the index’s price-to-earnings ratio down from 16.5 times to 12.9 times, with industrials excluding financials down from 30.1 times to 21.4 times. Has the earnings downgrade cycle just begun? Across Markets… TikTok Pte Ltd (Singapore) has appointed Nuffnang, subsidiary of social commerce platform provider Netccentric (ASX: NCL) as its Malaysian multi-channel e-commerce network partner. Nuffnang is...