Monday, 6 October 2008


And their economy is in better shape than ours

from the Australian
AUSTRALIAN shares and the local currency fell sharply today on fears about the deepening global financial crisis.
The benchmark S&P/ASX 200 Index closed down 155 points, or 3.3 per cent, at 4540.4, it lowest level since November 2005, as the bear market tightened its grip. The bourse is now about 34 per cent below last year’s all-time peak. The Australian dollar was also hit hard, falling to a 30-month low below US75 cents, taking is losses to about 24 per cent since its 25-year peak of US98.40c in mid-July.

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