ASX to open flat; oil falls most since July on weak China data


Source: afr.com afr.com

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Pinned post – 7.29AM The Australian sharemarket is poised to open flat after gains on Wall Street were offset by weaker than expected Chinese data that weighed on commodity prices. ASX futures were down 1 point to 6989 overnight despite gains in US mega-cap tech stocks, as investors paid little heed to Federal Reserve policymakers warning that there is more work to do to tame inflation. Australian stock futures drifted lower as iron ore, gold and oil retreated overnight amid renewed concerns about China’s economy following mixed trade data on Tuesday. What happened overnight US oil dropped below $US78 a...