Australia stocks lower at close of trade; S&P/ASX 200 down 0.11% By Investing.com

© Reuters. Australia stocks lower at close of trade; S&P/ASX 200 down 0.11%

Investing.com – Australia stocks were lower after the close on Wednesday, as losses in the , and sectors led shares lower.

At the close in Sydney, the fell 0.11%.

The best performers of the session on the were Unibail Rodamco Westfield (ASX:), which rose 7.59% or 0.28 points to trade at 3.97 at the close. Meanwhile, Virgin Money PLC (ASX:) added 6.04% or 0.10 points to end at 1.75 and Service Stream Ltd (ASX:) was up 4.82% or 0.085 points to 1.850 in late trade.

The worst performers of the session were Mesoblast Ltd (ASX:), which fell 8.63% or 0.290 points to trade at 3.070 at the close. Seek Ltd (ASX:) declined 8.63% or 1.85 points to end at 19.58 and Wisetech Global Ltd (ASX:) was down 8.41% or 1.74 points to 18.95.

Falling stocks outnumbered advancing

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‘Political posturing’: Why escalating U.S.-China tensions are not rocking markets

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“And when you get the second wave, the mystique is gone,” said Mordy.

China, Mordy said, also doesn’t appear ready to up the ante. Chinese officials have been “biting their tongues” in the current dispute because their top goal is to preserve economic growth, Mordy said.

Even China’s state-backed media has begun to reflect this strategy. The Global Times, a mouthpiece of theChinese Communist Party, published a column on Sunday arguing for restraint because the latest U.S. measures were only attempts to gain traction in the election.

“If we ignore those actions and meet them mainly with ridicule, then we might gain more international support than be directly confronting them,” the editorial said.

That’s why Toronto-based Purpose Investments chief investment officer Greg Taylor recommends that investors continue doing what they have so far in response to the building tensions: “Keep your head down,” he said.

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Most Americans now fear touching cash, survey says

Dirty Money is a popular Netflix documentary. But the term could also be used to describe how many Americans feel about handling cash these days.

According to a new survey, 54% of Americans are concerned about touching coins or bills due to COVID, while 60% plan to use so-called touchless payments in the future.

The findings are based on an online survey of 600 people conducted by Rapyd, a global payments company backed by digital payment giant Stripe. The survey also found that 45% of Americans want to see pennies phased out, while 5% want all coins to be eliminated.

In an interview with Fortune, Rapyd CEO Arik Shtilman said COVID has rapidly accelerated an existing trend of Americans ditching cash for other forms of payment.

Shtilman added, though, that it will take years before the U.S. resembles Asia, where phone-based digital wallets are ubiquitous. He said … Read More