The Australian share market has dived to near two-year lows amid a global stock sell-off, with energy and mining stocks bleeding red and the banks also suffering in early trade.
US stocks have extended their recent sell-off, with the S&P 500 hitting a three-week low, as energy shares dropped with oil prices and retailers including Target and Kohl's sank after weak earnings and forecasts.
Gold prices edged downward as investors flocked to the dollar and US government bonds amid steep declines in global stock markets, denting appeal for non-interest bearing bullion.
Oil prices have tumbled about seven per cent, with US crude plunging to its lowest level in more than a year, caught in a broader Wall Street sell-off that was fed by rising concerns about slowing global economic growth.
A late rally from banking stocks kept the Australian share market from the doldrums reached in October, but broad-based losses still dragged the indices lower with local tech stocks following the fortunes of US counterparts.
Healthcare stocks are in the sick bay and the energy sector is also sapping the Australian market at the open, while local tech stocks have followed the fortunes of their US counterparts and plummeted in early trade.
Brent crude futures fell in choppy trade, under pressure from growing supply but supported by a reported drawdown of US oil inventories, potential European Union sanctions on Iran and possible OPEC production cuts.
The Nasdaq has slumped nearly 3 per cent and the Dow and S&P fell more than 1 per cent as investors pulled out of Apple and internet shares, while conflicting signals over the US-China trade dispute added to caution.
Gold inched up as the dollar fell, but the metal stayed in a tight range as investors held off on big moves ahead of the US Thanksgiving holiday on Thursday.
Three major sporting facilities in Perth will bear the name of health insurer HBF after the organisation signed a deal for the naming rights to nib Stadium.
The Australian share market has closed lower, weighed down by APEC trade tensions and a financial sector hit by more banking woes and the loss of a significant contract for Medibank Private.
Newly built homes in Western Australia are the largest in the country, with new houses averaging 235.3 square metres and new apartments increasing in size by 8.7 per cent.
The S&P 500 and Dow Industrials are higher after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq.
Oil ended the week slightly firmer after volatile trading, supported by expectations that the Organisation of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns.
Gold rose as much as a percentage point as the dollar fell after US Federal Reserve officials made cautions comments on the outlook for interest rate hikes, while palladium hit a record high driven by worries about short supplies.
The Australian share market has closed marginally lower, with heavyweight healthcare and financial stocks unable to hold on to gains, and ended the week solidly in the red.
The Australian share market has lifted at the open with gains for energy and mining stocks, while the local healthcare sector was also firmly in the black.
il futures have risen, steadying after the week's steep losses as fuel stockpile declines in the United States helped offset concerns about a potentially oversupplied market next year.
Gold hit a near one-week peak as investors sought cover from market turmoil after Britain's long-awaited draft agreement to leave the European Union was thrown into chaos, helping the metal hold its ground against a rising dollar.
A rally in the final hour of trade wiped out heavy afternoon losses on the Australian share market as the ASX narrowly avoided a third straight session in the red.
The state government has approved the use of recycled construction and demolition (C&D) waste as road base for the Kwinana Freeway widening project, seven years after the Barnett government's attempt to do the same thing foundered.
Wesfarmers shareholders have voted to approve the $20 billion demerger of its supermarket business Coles, 11 years after it acquired the group in Australia's biggest corporate takeover.
Uranium explorer Vimy Resources has announced a major restructuring, including the resignation of three directors, further cost-cutting and a focus on its base metals project.
Australian shares have eked out modest gains at the open despite an overnight sell-off on Wall Street, with healthcare and mining stocks lifting in early trade, though the banks were weighing on the bourse.
Oil has bounced nearly two per cent, recouping some of the previous session's heavy sell-off, on the growing prospect that the Organisation of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up the market.
