ASX ekes out a daily gain to seal its third winning week

October 22, 2021 - 1 month ago
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After many wobbly days, the Australian share market sealed a third straight bullish week after eking out a +0.1-point gain on Friday.

After a choppy session, the benchmark S&P/ASX 200 index finished virtually unchanged with the close eking out a +1-point gain to 7,415.5, while the All Ordinaries lost -1.7 points, or -0.02%, to 7,726.8, while our local currency, the Australian dollar, is currently buying US$0.7504.

Major miners fell on the back of plunging iron ore prices overnight, while Energy and Financials also weighed on the index.

In other markets, Bitcoin, the world’s largest cryptocurrency by market value, plunged almost -90% on Binance U.S. exchange Thursday before almost immediately snapping back.

The bitcoin price briefly dropped to under $US10,000 per bitcoin on Binance from $US65,000.

The momentary plunge also affected the bitcoin price on other exchanges and the Ethereum price rally.

Binance blamed the plunge on its algorithm.

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