As a backdrop, markets certainly felt the pinch of US and China’s trade war. Coupled with Hua Hui Financial CEO’s bailout hearing keeping the markets nervous.
Then came Teresa May’s indefinite postponement of Brexit vote in the Parliament. It fueled more unrest.
Last but not least, Japan recorded the lowest GDP growth since the second quarter of 2014. Germany and France reported lower growth than expectation.
All these helped to drag global stock markets further downward.
Having said that, Dow Jones landed on the black on the news that Federal Reserve likely to slower its pace on rate hike schedule.
Yesterday, ASX200 recorded the biggest fall in 23 months, shedding 129 points, and the banks led the sell off on expectation of lower dividend payout next year.
But would it? According to our guest, Raymond Chan of Morgan’s Asian Desk Chief, he maintained that wholesale funding cost not likely to affect Aussie banks dividend payout in 2019.
