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Australia market major backs plan to break ASX monopoly on post-trade functions

SYDNEY (Reuters) – A top Australian share trading technology firm backed a government proposal to break stock market operator ASX Ltd’s effective monopoly over clearing and settlement, saying its failed software overhaul showed the need for new entrants. In draft legislation published this week, the federal government said it wants to give potential rivals to […]

Oil pares losses as Middle East tensions rise after U.S. air strike

Oil prices trimmed early losses on Friday after a U.S. air strike on Iran-backed groups pushed up fears that rising tensions in the Middle East could disrupt supply, although concerns over weak demand and slowing economic growth still weighed. The U.S. carried out precision air strikes on Iran-backed groups in east Syria, in retaliation for […]

Asia FX weakens as dollar steadies from Fed-driven losses

Most Asian currencies fell on Friday and the dollar steadied near seven-week lows as markets speculated over how imminent a pause in interest hikes may be, although dovish signals from the Federal Reserve put most regional units on course for strong weekly gains. The safe haven Japanese yen outperformed its peers, rising 0.5% even as data showed […]